CHEC

GPC International Terminal Ltd. (GPC) has signed a public-private partnership (PPP) contract with the Port Authority of Thailand (PAT) to develop and operate the Laem Chabang Port Phase 3, Terminal F project in Chonburi province. The investment value in terms of the berth structure development is 30,871 million baht. This joint endeavor aims to push the Laem Chabang Port towards the gateway of trade and investment, which will potentially drive Thailand towards becoming a regional hub and increase the country’s competitive edge. The port is expected to open for commercial operations by 2025. GPC is a joint venture between Gulf Energy Development Public Company Limited (SET: GULF), PTT Tank Terminal Company Limited (PTT TANK) and CHEC OVERSEA INFRASTRUCTURE HOLDING PTE. LTD. (CHEC OVERSEA) where GULF holds a 40% stake, while PPT TANK and CHEC OVERSEA hold 30% of the shares respectively. Mr. Anutin Charnvirakul, Deputy Prime Minister and Minister of Public Health, presided over the signing ceremony and gave congratulations on the signing: “The Laem Chabang Port Phase 3, Terminal F project is a significant infrastructure project of the Eastern Economic Corridor (EEC) development plan. It will boost the economy in a move to support the growth of future international sea freight as well as improve the well-being of the people following the government’s commitment as the development promotes the value chain and multimodal transport management to increase efficiency and reduce shipping costs. This will develop and expand the area behind the Laem Chabang Port to its fullest potential.” Vice Admiral Yutthana Mokkhao, Acting Director and Deputy Director, Financial Management and Corporate Strategy, PAT, said: “The Laem Chabang Port Phase 3 can accommodate the world’s largest cargo ships. It is also equipped with cutting-edge technology and automation. There will also be efficient logistics network integration between the port, road, rail and seas. It aims to be a green port, which takes into account the environment and local people’s quality of life, and strides towards its goal of becoming a world-class port. Mr. Ratthaphol Cheunsomchit, Deputy Chief Executive Officer, GULF, stated on behalf of GPC: “GPC is honored to collaborate with the government under this PPP. The GPC consortium is ready to leverage our expertise and bring together each partner’s strengths. GULF will use accumulated experience in developing and managing large-scale infrastructure projects in Thailand and overseas to develop the port. PTT TANK has extensive industry experience in port management, warehouse management and liquefied gas handling. CHEC OVERSEA, a subsidiary of China Harbour Engineering Company Limited, has a proven track record of expertise in construction, infrastructure development and leading container terminal projects worldwide. Following the signing, the design work will begin in parallel with the preparation of the Environmental Impact Assessment (EHIA) report to move forward. We are more than ready to cooperate with the government in pushing this port to become a strategic regional logistics hub that will eventually further support other relevant mega projects of the Ministry of Transport.” For the development of the Laem Chabang Port Phase 3, PAT will be in charge of sea reclamation while GPC will be responsible for the design, construction, and operation and maintenance (O&M) services for F1 and F2 container berths to accommodate container throughput and implement automation technology for the operation of the project. The port can handle a container throughput capacity of 4 million TEU/year. GPC will receive remuneration as income from port operations such as berth hire, wharf handling charges, container wharfage and other related fees according to the scope and conditions of the 35-year PPP contract. Construction will begin on the F1 container berth in 2023 and commercial operations are scheduled for 2025 while construction will begin on the F2 container berth in 2027 and scheduled for commercial operations by 2029.