BTS Is in Pursuit of PTT to Join Three Airports Connecting High-Speed Railway Projects

 

BTS Group Holdings Company Limited or BTS expects that the list of joint venture companies will be completed by September regarding an auction for the high-speed railway construction, which will connect Thailand’s three major airports (Suvarnabhumi Airport – Don Muang Airport – U Tapao Airport). The project’s value is 200 billion baht.

Currently, BTS has joined hands with two other companies, which are Sino-Thai Engineering and Construction Public Co., Ltd (STEC) and Ratchaburi Electricity Generating Holding Public Co., Ltd (RATCH). This joint venture will be named BSR group. Meanwhile, the group is awaiting PTT Public Company Limited (PTT)’s reply on the joint venture, and possibly more companies since there were 31 companies who requested for auction envelopes.

The 30 billion baht equity which has been indicated in the term of reference would not be any problem for the BSR group, especially BTS that has various methods to acquire the funding such as debenture, or warrant etc.  

 

According to the source from State Railway of Thailand (SRT), PTT is currently discussing with BSR group and Charoen Pokphand Group (CP) regarding this project, which the latter has Bangkok Expressway and Metro Public Company Limited (BEM) in their joint venture companies.

PTT’s decision to participate or decline the project should be anytime soon, while the winner of the auction will be announced on November 13, 2018.