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.