"Phiphat" blocks SRT from amending the "three-airport high-speed rail" contract, insisting on proceeding under the original framework, while accelerating development of a new 15,000-rai city featuring Disneyland and a stadium near U-Tapao Airport as key drivers to boost travel demand. He emphasized that Thai and foreign investors are ready to invest.
Mr. Phiphat Ratchakitprakarn, Deputy Prime Minister and Minister of Transport, revealed that tomorrow (25 Feb), the Eastern Economic Corridor Policy Committee (EECPC) will meet to monitor investment progress in the Eastern Economic Corridor (EEC) area, including updates on the high-speed train project connecting three airports (Don Mueang, Suvarnabhumi, U-Tapao). He affirmed his opposition to amending the joint investment contract for the three-airport high-speed rail construction project.
"The contract must not be amended. We took over at a time when contract amendments were being drafted, but as chairman of the EEC board, I will not allow contract amendments to be approved. If the State Railway of Thailand sees a need to amend the contract, it must bear the legal risks on its own. I will not be involved," Mr. Phiphat said.
However, private sector proposals to amend the contract cite COVID-19 impacts causing passenger numbers to fall short of original estimates. Currently, Thailand's tourism sector is steadily recovering, so COVID should not be used as a reason to change contract terms. He suggested addressing the root issue by finding ways to attract more people to the EEC area to generate revenue and meet the original project assumptions.
Mr. Phiphat added that studies of the EEC's new smart city development plan (EECiti) on 15,000 rai show it is well connected to the country's main transport networks. The project area is only 10 kilometers from the (high-speed train) station and 15 kilometers from U-Tapao International Airport, making travel and transport convenient domestically and internationally.
Therefore, he proposed developing a world-class theme park approximately 15 kilometers from U-Tapao Airport, with easy access to the high-speed rail system. This would be developed alongside an international sports complex, meeting the lifestyle needs of various tourist groups. This concept is feasible, as discussions with private investors are underway. He confirmed that Thai and foreign investors, especially from the Middle East, are interested in co-investing in the theme park, which would increase the number of users of the three-airport high-speed rail.
Regarding attracting a world-class theme park brand, particularly Disneyland, into the EEC, there are various feasible approaches such as licensing or partnering with Thai investors, rather than waiting for the brand owner to invest entirely. Currently, Thai and foreign investors are ready to co-invest. He emphasized that this is achievable and can resolve tourist volume issues, potentially pushing annual tourist numbers beyond 40 million without amending the joint investment contract for the three-airport high-speed rail project.
Reporters noted that on 25 Feb at 9:00 a.m., Anan Phonnimdaeng, Deputy Governor of the State Railway of Thailand (SRT) and acting Governor, is scheduled to discuss progress and project details of the three-airport high-speed rail.
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