Active Mixed AidData Chinese Aid

Bank of China (Thai) provides bridge loan for Laem Chabang Port Terminal Phase III Public-Private Partnership (PPP) Project

Funder	Bank of China (Thai) Public Company Limited
Recipient Organization	GPC International Terminal Co., Ltd.
Country	Thailand
Start Date	Nov 30, 2021
End Date	Apr 25, 2026
Duration	1,607 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`105300`

Grant Description

Bank of China (Thai) provides bridge loan for Laem Chabang Port Terminal Phase III Public-Private Partnership (PPP) Project On November 30, 2021, the Port Authority of Thailand (PAT) and GPC International Terminal Co., Ltd. — a Thailand-incorporated special purpose vehicle and joint venture of Gulf Energy Development plc (GULF) [40% equity stake], PTT Tank Terminal Company Limited (PTT TANK) [30% equity stake] and CHEC OVERSEA INFRASTRUCTURE HOLDING PTE.

LTD. (CHEC OVERSEA) [30% equity stake] — signed a public-private partnership (PPP) contract for the development and operation of the Laem Chabang Port Phase 3, Terminal F Project in Tungsukla Subdistrict, Sriracha District, and Chonburi Province. The PPP contract specifies a 4-year construction period and a 35-year concession period for the $914.5 million project.

The Bank of China (Thai) (BOCT) subsequently issued a bridge loan to GPC International Terminal Co., Ltd. for the Laem Chabang Port Terminal Phase III PPP Project.

📋 Loan / Grant Terms

💰 Loan Amountare unknown

The purpose of the project is to construct six quays and a railway station at Laem Chabang Port in Tungsukla Subdistrict, Sriracha District, and Chonburi Province.

Four container berths are expected to add capacity of 7 million containers per year, while a general berth is expected to handle a million containers per year. A RO/RO terminal is expected to accommodate a million cars per year.

As of February 2024, construction of sand barriers was 71% complete, excavation and dredging was 61% complete, and wave barriers were 39% complete. The port was originally scheduled to open for commercial operations by 2025.

📋 Staff Comments

This project is also known as the Laem Chabang Port Phase 3, Terminal F Project. The Chinese project title is 林查班港港 or 林查班港第3期的 or 林查班港F港区三期 or 林查班港三期开发项目. The Thai project title is โครงการ PPP ท่าเทียบเรือแหลมฉบัง ระยะที่ or โครงการ ท่าเทียบเรือแหลมฉบัง ระยะที่ 3.
The PAT is responsible for the land reclamation work, while the private sector will be responsible for the design, construction, and operation and maintenance (O&M) services for F1 and F2 container berths to accommodate container throughput and implement automation technology for the operation of the project which can accommodate container cargoes of at least 4,000,000 TEU per annum, with a total berth length of 2,000 meters, and a total width of 550 meters. The F1 container berth is expected to start construction in 2023 and commence commercial operation in 2025, and the F2 container berth is expected to start construction in 2027 and commence commercial operation in 2029.
The face value of the bridge loan is unknown. This issue warrants further investigation.

📚 Sources & References

The fourth tender contract for Phase 3 of Laem Chabang Port in Thailand is expected to be signed within this month
Bank of China (Thai) 2021 Annual Report, ปตท. เดินหน้า Reinvest สร้างบ้านใหม่...Future Energy and Beyond, “一带一路”启示录｜中国企业科技助力泰国共享“一带一路”成果
多家国际码头运营商青睐的东南亚大港，你值得了解~, 10.1亿美元！中国港湾中标泰国林查邦港三期F区PPP投资项目, 9 of the world’s biggest seaport projects under construction
GPC Consortium signs PPP contract for Laem Chabang Port Phase III Project
Contract signed for Laem Chabang Port Phase 3 PPP in Thailand
Gulf Energy Development Public Company Limited Management Discussion and Analysis of the Company’s Performance For the Quarter Ended June 30, 2022
Notification on Receipt of the Tender Offer for the Securities of Thaicom Public Company Limited (Form 247-4)
PTT Plc Supplementary of Form 56-1 One Report for Year 202
Infrastructure Projects & Public Private Partnerships
林查班港三期开发项目 Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.