SRT follows through procedure
The State Railway of Thailand (SRT) insisted that it has followed through the procedure in regaining control on the Chatuchak weekend market from Bangkok Metropolitan Administration (BMA).
Taweesak Suthiserm, SRT's asset management director, said that the SRT has notified BMA of new conditions, five years before the contract would end on Jan 1, 2012.
SRT proposed the new annual rent of Bt420 million and the annual rental increase of 15 per cent through the new 20-year contract. At the negotiation desk, SRT insisted that it would not reduce the proposal. On Oct 26, BMA proposed the annual rent of Bt79 million and the annual rental increase of 15 per cent, on condition that the contract period is extended to 30 years.
"We couldn't reach an agreement. SRT believes that we could make a higher return than what is offered by BMA. Aside from rents from permanent booths, we can generate more from space along walkways," Taweesak said.
