The government on Friday signed a contract with the BBS consortium for the 290-billion-baht U-tapao International Airport and Eastern Airport City Project.
Prime Minister Prayut Chan-o-cha presided over the signing of the contract between the Eastern Economic Corridor Office (EEC) and U-tapao International Aviation Co, the company the consortium set for the project.
Gen Prayut welcomed the public-private sector agreement, saying it followed the signing of a contract to build a high-speed train network linking three major airports on Oct 24 last year.
The government was determined to continue development of the eastern economic zone, he said.
Deputy Prime Minister Somkid Jatusripitak had initiated the plan and Deputy Prime Minister Anutin Charnvirakul had continued with it.
The U-tapao airport project was a major government infrastructure development that would strengthen economic and social growth and boost the economy of the eastern region.
“The signing of the contract today is a confirmation of cooperation between the public and private sectors. This is the guideline for the government’s investment, a crucial step and a new dimension in Thailand stepping ahead.
“This project will upgrade the country to be the regional aviation hub,’’ the prime minister said.
EEC secretary-general Khanit Saengsuphan confirmed the board signed the 290-billion-baht contract with U-tapao International Aviation to develop U-tapao airport. Thailand would have an aviation city, the first of its kind in the country. It was a mega-infrastructure development for the Asia-Pacific region.
This project would generate 305.55 billion baht for the government, another 62 billion baht in tax and create 15,600 jobs a year in the first five years. All assets would revert to the state after the expiration of the 50-year contract, he said.
U-tapao airport would become the third international gateway in the high-speed train project linking it with Don Mueang and Suvarnabhumi airports. The three airports would be able to handle 200 million passengers a year, Mr Khanit said.
The BBS consortium comprises Sino-Thai Engineering and Construction, Bangkok Airways and BTS Group Holdings.
Prime Minister Prayut Chan-o-cha presides over the signing of the joint venture agreement for construction of U-Tapao Airport and Eastern Aviation City at Inner Santi Maitree Building, Government House. (Government House photo)
(Government House photo)