PTT withdraws from rail project bid, almost

PTT withdraws from rail project bid, almost

PTT Plc, the national oil and gas conglomerate, will not bid for a 224-billion-baht high-speed railway project linking three airports but hopes to serve as a business partner of the winning company.

PTT president Chansin Treenuchagron said one of the company's subsidiaries, Energy Complex Co (EnCo), will independently conduct a feasibility study of the project, which will connect Don Mueang, Suvarnabhumi and U-Tapao airports. It will also draw up a business model focusing on property development, he added.

PTT was among 31 firms, including 16 from Thailand and seven from China, that expressed interest in bidding for the project. All bids must be submitted by Nov 12 with the winner to be announced the next day, the State Railway of Thailand said.

The project is considered integral to the government's flagship Eastern Economic Corridor (EEC) scheme.

PTT has many business units in the EEC provinces, mainly in Rayong.

Do you like the content of this article?

Currency thresholds

Vietnam and Taiwan again exceeded the US Treasury's thresholds for possible currency manipulation, while Thailand is still one of 12 countries on its "Monitoring List."


'Reshaping' the economy

The government has come up with a raft of measures to attract foreign investment, including promoting foreign film productions, as part of efforts to reshape the country's economic landscape.


Pattaya slakes its thirst

The alcohol ban was lifted in Pattaya on Friday, a move hailed by tourism-related businesses that had complained they lost 60% of their income in what was already a lukewarm market.