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China Development Bank pledges support for the Eastern Economic Corridor High-speed Rail Project
| Funder | China Development Bank (CDB) |
|---|---|
| Recipient Organization | Government of Thailand |
| Country | Thailand |
| Start Date | May 21, 2019 |
| End Date | Aug 26, 2032 |
| Duration | 4,846 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 88958 |
Grant Description
China Development Bank pledges support for the Eastern Economic Corridor High-speed Rail Project On May 21, 2019, China Development Bank (CDB) and Japan Bank for International Cooperation (JBIC) signed a memorandum of understanding (MoU) with the Government of Thailand pledging financial support for the Eastern Economic Corridor (EEC) High-speed Rail Project.
It is unclear whether CDB or any other financier ever made a formal commitment to this project.
The purpose of this project is to build a 220 km-long high-speed railway connecting Don Mueang International Airport, Suvarnabhumi Airport, and U-Tapao International Airport. According to media reports, construction began October 24, 2019.
Works were originally supposed to reach completion in 2023 but due to the pandemic the end date was pushed back to 2025.
This project is being developed as a public-private partnership (PPP) between the State Railway of Thailand (SRT) and CP Group.
CP Group (70%), China Railway Construction Corporation (10%), CITIC Group, Bangkok Expressway and Metro Plc., Italian-Thai Development PCL, and CH Karnchang PCL created a joint venture and special purpose vehicle called Eastern High-Speed Rail Linking Three Airports Co., Ltd. to carry out the project.
The all-in investment is THB 224.544 billion (about RMB 47.1 billion).
Sources & References
- 推迟已久的中泰高铁项目有了新进展
- Don Mueang–Suvarnabhumi–U-Tapao high-speed railway
- Deal inked for Thai high-speed rail linking 3 airports
- World Bank fears political problems in Thailand as it still eyes 3.5% growth for 2019 in latest bulletin, 3-airport rail link deal likely to be signed in mid-May
- China Railway Construction to Build USD7.4 Billion High-Speed Track in Thailand
- CP inks 3-airport contract
- THAILAND AND CONSORTIUM INK DEAL TO BUILD HIGH-SPEED RAIL LINK
- Thailand signs $7.4bn high-speed train project agreement
- THAILAND: Chinese and Japanese Banks Agree Eastern Economic Corridor Funding Deal
- An Update on the Progress of the High-Speed Railway connecting Three Airports 86 percent of the area, or 5,521 rai, has been handed over – with confidence that the service will be open to the public by 2025
- SRT and CP Group signed the PPP agreement to develop the High-Speed Rail Linking Three Airports Project
- Construction for Airport Rail Link Kicks Off 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.
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Government of Thailand
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