The SRT board acknowledged progress on the high-speed rail linking the three airports (Don Mueang, Suvarnabhumi, U-Tapao), resolving joint venture contract amendment issues. The private sector has pledged 160 billion baht as civil works guarantees. Plans are to submit the proposal to the new Cabinet for approval, with NTP expected in August. Service is targeted to begin in 2032.
Mr. Anan Phonimdaeng, Deputy Governor of the State Railway of Thailand (SRT). He revealed after the SRT board meeting that progress on the high-speed rail project connecting the three airports (Don Mueang–Suvarnabhumi–U-Tapao) was reported. The project is now in the final phase of negotiations to amend the state joint venture contract. The next step will be to submit it to the new Cabinet for consideration.
The contract negotiations focus on agreeing on civil works guarantees and adjusting the state’s joint investment payment structure to enable the project to proceed amid private sector liquidity constraints following the COVID-19 crisis. He confirmed the project is directly linked to the Thai-Chinese high-speed rail and the Eastern Economic Corridor (EEC) development strategy.
Mr. Anan said that regarding contract amendments, the SRT, Asia Era One Company Limited, and the Eastern Special Development Zone Policy Committee (EEC Office) have been in joint discussions. Following the Attorney General’s opinion on amending the joint venture contract, a proposal is being prepared for the Cabinet to amend the principles. This has already been submitted to the EEC Office to forward to the Cabinet for budget considerations under the Financial Management Act. The new Cabinet’s approval is awaited for the project’s principal framework.
Concerning contract drafting and the Attorney General’s views, after discussions among all three parties, the private sector agreed to provide a civil works guarantee of 160 billion baht—120 billion for civil works and 40 billion for systems. The private sector proposed releasing the entire guarantee upon completion and commencement of operations within five years after starting work. Meanwhile, the Attorney General initially suggested retaining the guarantee to cover other project risks. However, the SRT and private sector maintain that this guarantee is solely for civil works, as other risks are already covered by a main contract guarantee of 4.5 billion baht.
Mr. Anan said that if the Cabinet approves the project around June–July 2026, the contract signing is expected in July, with the Notice to Proceed (NTP) issued in August 2026. Construction is planned to take five years, with approximately six months for system testing, aiming to open service by 2032.
Mr. Anan added that the high-speed rail connecting the three airports is directly linked to the Thai-Chinese high-speed rail project, especially in shared structural areas within limited construction zones, such as the Missing Link segment. Coordination of construction schedules is necessary to avoid rework and reduce engineering complexity. If contract amendments are not finalized within the timeframe, the SRT will report to the Cabinet to consider adjusting the project scope, possibly reclaiming shared structural work to be executed directly by the SRT. This is to prevent impacts on the overall Thai-Chinese rail project, particularly in Ayutthaya contracts 4-5, which are currently undergoing design revision in preparation for bidding, with a timeline aligned with the final decision expected in July.
To manage risks and ensure transparency before issuing the NTP, the SRT will submit the signed contract draft to external audit agencies, such as the Office of the Auditor General and the National Anti-Corruption Commission, for review and disclosure. Any recommendations may be incorporated before actual work begins. The high-speed rail project serves as infrastructure development within the EEC, linking with the U-Tapao Aviation City project to facilitate travel.
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