Thailand’s Public-Private Partnership (PPP) Committee has put five of its mega projects, with a combined investment of 334.207 billion baht ($9.32 billion), on the fast track, in a bid to stimulate the country’s economy.
This move would be the junta’s first mega-investment injection after it changed the Cabinet in October.
Somkid Jatusripitak, deputy prime minister and chairman of PPP, said, these five projects would be driven under the PPP fast track, which would take shorter time to rush all the processes including the bidding to finish within the first half of 2016.
Five projects comprise the Pink Line elevated train worth 56.725 billion baht, the Yellow Line worth 54.768 billion baht, the Blue Line worth 82.494 billion baht, the motorway from Bangpa-in to Nakhon Rachasrima worth 84.6 billion baht and the motorway from Bangyai to Kanchanaburi worth 55.62 billion baht.
The Pink and Yellow Lines have already approved by Transport Ministry since September, and the other three are expected to get the approval by the end of this year.
All the projects will then be proposed to the Cabinet by March and put for the bidding process by May, Ekniti Nitithanprapas, director-general of the State Enterprise Policy Office (SEPO), told the media.
The PPP Act was created in 1992 to allow the private sector to invest in public projects to reduce the government’s debt burden. Later in 2013, the PPP Act was amended to shorten the approval time from 10 years to two years.
“That is still too long. We (SEPO) would like to rush the approval process to only nine months,” Ekniti said.
He added that all the five projects were likely to allow companies to fund the whole project and the government would repay the investment capital later.