Some readers have expressed surprise and raised many questions about why it is certain that the government must abandon investment plans in major mega-projects such as the special economic zone known as the Eastern Economic Corridor (EEC), including all investment projects that have been awarded to private companies through bidding and completed.
Just the Asia Era One Consortium, which includes Charoen Pokphand Holdings Public Company Limited (CP), Italian-Thai Development Public Company Limited,and Ch. Karnchang Public Company Limited,along with China Railway Construction Corporation, have requested negotiations with the government to terminate the joint venture contract for the high-speed rail connecting three airports (Don Mueang, Suvarnabhumi, and U-Tapao).
Their reason is a lack of investment viability and refusal by financial institutions to provide loans, despite government efforts to salvage the project by proposing contract amendments.
However, disagreements over cooperation in other investment projects remain difficult to resolve, while the original study data is now outdated and no longer applicable for current or future conditions, especially where economic viability cannot be achieved, such as the initial estimate that U-Tapao Airport would handle 13 million passengers.
Besides the high-speed rail linking three airports and the Airport Rail Link being unfeasible due to poor investment return, the aviation city centered on U-Tapao Airport also seems unlikely to materialize.
This is because investments in Suvarnabhumi and Don Mueang airports continue to expand.
At Suvarnabhumi Airport, Airports of Thailand Public Company Limited (AOT) is rapidly expanding to position Thailand as the region’s aviation hub, aiming to increase passenger capacity from 60-85 million to between 120 and 200 million annually.
This is being done through the South Terminal development project (SAT-1), which includes jet bridges and raises capacity to 120 million passengers.
Following SAT-1, AOT plans the East Expansion, an urgent project set for bidding in 2027 with construction scheduled to finish within four years, aiming to add at least 70 million passenger capacity by September 2031.
These two expansions will cover a combined area of 480,000 square meters to accommodate the targeted passenger volumes.
Simultaneously, AOT is expanding the fourth runway and transportation systems to increase peak flight operations from 94 to 120 flights per hour, including extending the automated people mover (APM) connecting the main terminal, SAT-1, and both southern and eastern terminals.
At Don Mueang Airport, AOT is advancing Phase 3 development with a budget of approximately 36.8 billion baht, planning to demolish the old Terminal 3 to build a new international passenger terminal.
Terminals 1 and 2 will be converted for domestic flights, boosting capacity to 40-50 million passengers annually, with partial opening targeted for 2030 and full completion by 2032.
Together, the two airports will serve over 200 million passengers per year, making it difficult for travelers to choose U-Tapao Airport since they would have to pass through Don Mueang and Suvarnabhumi anyway, making it unlikely anyone would carry luggage all the way to U-Tapao.
Thus, the aviation city project for U-Tapao Airport may be another contract that U-Tapao International Aviation Company Limited (UTA) struggles to realize and find economic viability.
Regarding the Phase 3 expansions of Laem Chabang Port to increase international cargo capacity and Map Ta Phut Industrial Port to support natural gas and petrochemical industries,
while these projects remain feasible, they urgently require government support for infrastructure investments such as utilities, water, and electricity to accommodate large-scale data centers and advanced technology investments.
However, private contractors holding government contracts, especially the NCP Consortium responsible for developing Map Ta Phut Industrial Port for natural gas and petrochemical handling, may need to expedite enforcement regarding overlapping maritime areas between Thailand and Cambodia, despite the Thai government having terminated MOU 44, since the contract remains valid.
The key issue is whether, without the high-speed rail and aviation city supporting port investments, economic viability remains sufficient and how the government will assist and support the projects to enable private contractors to proceed strongly.
If these projects are outdated, delayed in investment steps, and unfeasible in practice, then why continue to chase unrealistic dreams?