PTT settles land deal with SRT
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PTT has settled the land lease deal with the State Railway of Thailand.
The contract for the land was expired on March 31, 2013. The renewed deal will end in 2043.
PTT announced that it would pay the lump sum of Bt42.3 million as rental fee.
In its statement, the company added it would give SRT another Bt1.3 billion. Insisting that this sum is not associated with the 30-year contract renewal, PTT said it was for the improvement of the land plot's landscape and SRT's financial status.
Of total, about Bt450 million would help SRT develop a land plot which will be later specified by the railway agency. The sum is to finance a dormitory building and a parking building.
