CP Group has submitted a letter requesting termination of the 3-airport high-speed rail contract due to SRT's inability to issue the Notice to Proceed (NTP). SRT points to two options: "contract amendment" or "contract termination," while preparing backup plans and emphasizing that the Airport Rail Link service must continue uninterrupted to avoid affecting the public.
Anan, Governor of the State Railway of Thailand (SRT), revealed that after discussions among the three parties—the EEC, SRT, and the private contract partners—two options were concluded: "proceed with contract amendment" or "terminate the contract." On 6 July, CP Group submitted a letter to SRT exercising the right to terminate under clause 6.2 because the NTP could not be issued. All parties are seeking solutions, with assurances that the Airport Rail Link service will continue without disruption to the public.
Anan Phonnimdaeng, Governor of the State Railway of Thailand (SRT), disclosed progress on the 3-airport high-speed rail project following joint discussions among the Eastern Economic Corridor (EEC) Office, SRT, and private contract partners. On 6 July 2026, CP Group, the private concessionaire for the 3-airport high-speed rail project, submitted a letter to SRT exercising its right to terminate under clause 6.2 of the joint venture contract because SRT was unable to issue the Notice to Proceed (NTP). SRT then reported the progress to its board of directors.
Following joint discussions among the EEC Office, SRT, and private contract partners, two main solutions were identified to resolve the project issues as follows.
Proceeding with contract amendments is SRT's highest priority, following previous resolutions by the EEC Board and Cabinet. Currently, the draft amended contract has been reviewed by the Attorney General's Office, and the private partners have accepted all 18 points raised. The next step is to resubmit the matter to the EEC Board and Cabinet. If approved, construction can resume immediately.
Entering the contract termination process: if the first option fails to gain approval, the contract termination process must proceed, which aligns with the private partner's prior letter exercising the right to terminate.
The first option remains SRT's priority: proceeding with contract amendments as originally planned, following the EEC Board and Cabinet resolutions. The amended contract draft has been reviewed by the Attorney General's Office, and the private partners have accepted all 18 observations. The remaining step is to present the matter again to the EEC Board and Cabinet for reconsideration and approval of the amended contract draft, which is within the Cabinet's authority. If approved, the project can continue construction immediately without restarting the entire process.
However, if this option cannot obtain policy approval or faces insurmountable obstacles, the second option is contract termination. The private partners have already submitted a letter expressing their intention to negotiate exercising the right to terminate under clause 6.2 of the joint venture contract. This right applies under conditions before issuing the NTP, where if the NTP cannot be issued due to land delivery issues or failure to obtain BOI promotion certificates within the specified time, either party may terminate the contract.
In CP Group's case, the private partner invoked clause 6.2 because they had not received all required BOI promotion certificates, impacting their financial operations. They reasoned that without BOI incentives, securing loans from financial institutions would be affected. They proposed contract amendments first, but when no agreement was reached within the timeframe, they decided to exercise the right to terminate per the contract conditions.
Anan explained that under the joint venture contract, contract termination falls into three main cases: termination upon expiration of the 50-year concession, termination before issuing the NTP under clause 6.2, and termination due to other reasons such as breach by SRT or the private party, force majeure, concessions, or government use of powers for public benefit.
A key concern for SRT is the impact on Airport Rail Link operations, as operational rights are linked to the main high-speed rail project contract. If the main contract ends, the private operator's rights to run Airport Rail Link will also end. Meanwhile, the current MOU for operations expires on 30 September.
"SRT is preparing contingency plans to avoid service disruptions to the public, including negotiating with the private operator to extend the MOU period or preparing for SRT to resume operations itself, despite the time and preparation required," Anan said.
Regarding Airport Rail Link's financial settlements and liabilities, Anan said SRT is currently reconciling figures with the finance department, reviewing revenues, expenses, and related interest to finalize accurate numbers. Preliminary financial burdens are about 50 million baht per month. Final figures await further review by SRT's board and the legal subcommittee.
Anan emphasized that SRT still considers proceeding with the first option—the contract amendment—the best path, as it reduces legal steps and enables immediate construction continuation. However, if the private operator insists they cannot continue and wishes to exercise legal rights, SRT will carefully consider the matter, prioritizing public interest, project continuity, and uninterrupted Airport Rail Link service for the public.
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