The State Railway of Thailand (SRT) has filed a lawsuit at the Central Administrative Court against Asia Era One, along with two banks and six guarantors, seeking repayment of over 13 billion baht in Airport Rail Link rights fees. The SRT confirms that train services continue as usual, with no impact on the public.
According to reports from the State Railway of Thailand (SRT), it has exercised its rights and duties under the joint investment contract for the high-speed rail project connecting three airports by filing a lawsuit against the private investment partner, guarantor banks, and guarantee issuers — a total of eight parties — at the Central Administrative Court on 21 October 2026. The suit seeks enforcement of payment for the Airport Rail Link (ARL) joint investment rights fees plus default interest, totaling 13,335,938,913.70 baht, including enforcement of bank guarantees and surety bonds.
On 24 October 2019, the SRT, as project owner, signed a joint investment contract with Eastern High-Speed Rail Connecting Three Airports Co., Ltd., which later registered a name change to Asia Era One Co., Ltd. (the private partner). Under this contract, the private partner was obligated to pay SRT 10,671,090,000 baht for the Airport Rail Link investment rights within two years from the contract's effective date, with payment due by 24 October 2021. After SRT pursued payment and initiated dispute resolution procedures according to the contract, the private partner was unable to reach a settlement.
Therefore, the SRT was compelled to initiate proceedings at the administrative court. In this legal action, the SRT has sued individuals according to their roles and relationship to the joint investment contract as follows:
1. Asia Era One Co., Ltd. This is the primary private investment partner debtor. The SRT is suing for principal repayment of 10,671,090,000 baht plus default interest up to the filing date of 2,664,848,913.70 baht, totaling 13,335,938,913.70 baht.
2. Guarantor banks for the private partner's contractual obligations. There are two banks involved: Bangkok Bank Public Company Limited and Siam Commercial Bank Public Company Limited, each providing guarantees of 1,000,000,000 baht.
3. Issuers of surety bonds. These parties cover damages from the private partner's failure to fulfill contractual duties under the joint investment agreement. The maximum amounts are as stated in the surety bonds, proportionate to their investment shares in the project. There are five such issuers: 1. Charoen Pokphand Holding Company Limited (70% share), 2. China Railway Construction Corporation Limited (10%), 3. Bangkok Expressway and Metro Public Company Limited (10%), 4. Ch. Karnchang Public Company Limited (5%), and 5. Italian-Thai Development Public Company Limited (5%).
The SRT emphasizes that safeguarding state rights and serving the public are parallel priorities. The legal process is handled carefully and fairly to protect state interests without burdening the public with contract disputes. The SRT confirms that the Airport Rail Link train service remains fully operational. It prioritizes service quality, safety, and passenger convenience.
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