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BBS to sign Bt290bn contract for U-Tapao megaproject on Friday

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BBS to sign Bt290bn contract for U-Tapao megaproject on Friday

By The Nation

 

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The government will on Friday (June 19) sign a contract worth Bt290 billion with U-Tapao International Aviation Co for the development of U-Tapao Airport and Eastern Aviation City.

 

The move comes after the Cabinet endorsed the results of bidding for the project, won on June 2 by BBS Joint Venture Group. BBS has established the Utapao Company International Aviation Co Ltd to carry out the development.

 

The airport development scheme is one of five mega-projects in the government’s flagship Eastern Economic Corridor infrastructure plan.

 

The EEC Office (EECO) will sign the joint investment agreement in a ceremony overseen by Prime Minister Prayut Chan-o-cha at Government House.

 

U-Tapao Company International Aviation (UCIA) has registered capital of Bt4.5 billion and is a joint venture between Bangkok Airways, which holds 45 per cent of the shares, BTS Group Holdings Limited (35 per cent) and Sino-Thai Engineering and Construction Plc (STEC) 20 per cent. Narita International Airport Corporation has been contracted to manage U-Tapao Airport.

 

After signing the contract, UCIA must prepare a master plan of investment in the project within 60 days, then begin construction. The UCIA will invest in all four phases. The first phase for construction will take three years, with operations due to start in the fourth year.

 

Phase 1 will see construction of a third passenger terminal at U-Tapao with annual capacity of 15 million passengers, exceeding the 12 million specified in the contract’s terms of reference. It includes a Bt40-million rail connection system to be managed by Narita Airport Corp. Phase 2 will develop the APM electric train system to link the project as yearly passenger capacity grows to 30 million. Phase 3 will expand capacity to 45 million passengers, with a capacity of 60 million reached in phase 4.

 

Source: https://www.nationthailand.com/business/30389876

 

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-- © Copyright The Nation Thailand 2020-06-19
 
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another trough opened up

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There is no economic justificatiion for this. A complete waste of funds, leading to corruption & a reduction in the quality of life for local residents. It will have a huge negative impact on those people living in Eastern Star & Pala in Ban Chang.

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4 hours ago, smedly said:

another trough opened up

And once again STEC is a partner to the trough.

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Just in time for the uptick in tourists to Pattaya, Conburi, Raging and the economic zone.

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      Seems like a huge chunk of money that should be directed elsewhere right now due to covid changing everything--especially air travel--for likely some years to come.  Once air travel recovers down the road--whenever that might be--then maybe consider whether this airport needs to be expanded and by how much.  

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Thai government signs $9.3 billion U-Tapao aviation city project with local consortium

 

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FILE PHOTO: An airline staff member wearing a protective mask stands at U-Tapao Airport, in Rayong, Ban Chang District, Thailand February 4, 2020. REUTERS/Soe Zeya Tun

 

BANGKOK (Reuters) - Thailand's government on Friday signed a 290 billion baht ($9.36 billion) agreement with a consortium of local firms to upgrade and expand U-Tapao airport and its surrounds and turn it into a third international gateway for Bangkok.

 

It is part of a major government infrastructure project in its eastern industrial zone and will make U-Tapao a third commercial hub serving the Thai capital and its industrialised eastern seaboard, after the main Suvarnabhumi airport and low-cost terminal, Don Mueang.

 

It also covers construction of Airport City adjacent to the airport, a centre for logistics and supporting industries such as aircraft maintenance, repair, aviation training and fuel storage.

 

U-Tapao is located about two hours by road from Bangkok and a separate plan to create a rail link has been approved.

 

The consortium, BBS Joint Venture, comprises Bangkok Skytrain operator, BTS Holdings Pcl <BTS.BK>, Sino-Thai Engineering and Construction Pcl <STEC.BK> and Bangkok Airways Pcl <BA.BK>

 

(Reporting by Panarat Thepgumpanat and Chayut Setboonsarng; Editing by Martin Petty)

 

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-- © Copyright Reuters 2020-06-19
 

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Some have done very well for themselves during the pandemic.🤑

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I see Health Minister Anutin's company, Sino-Thai Engineering and Construction Plc has a 20% joint venture in this. 

 

 

 

 

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we need a third airport  a hundred miles from BKK now that the first two which are more convenient are not likely to be at capacity for years...

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28 minutes ago, Bkk Brian said:

I see Health Minister Anutin's company, Sino-Thai Engineering and Construction Plc has a 20% joint venture in this. 

 

 

 

 

I'm sure there's an open book on the tenderers....!

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How many former military people are connected to this and the companies investing in it?

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23 minutes ago, TooBigToFit said:

How many former military people are connected to this and the companies investing in it?

Do they really have to be 'former' military?

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On 6/19/2020 at 4:11 AM, webfact said:

U-Tapao Company International Aviation (UCIA) has registered capital of Bt4.5 billion and is a joint venture between Bangkok Airways, which holds 45 per cent of the shares, BTS Group Holdings Limited (35 per cent) and Sino-Thai Engineering and Construction Plc (STEC) 20 per cent. Narita International Airport Corporation has been contracted to manage U-Tapao Airport

Hmmmm.

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