Private investment sought for transport hub
THE 2,325-RAI (372-hectare) Phaholyothin Transportation Hub Area project is expected to seek approval for private participation under the pubic private partnership (PPP) scheme shortly.
A market-sounding seminar was held yesterday by the Office of Transport and Traffic Policy and Planning (OTP) to woo private investors for railway transport systems and commercial building complexes in the area.
The area is expected to bring in investments from private companies worth a total of Bt20 billion.
“The project, which the OTP has studied and designed at the initial stage, is to serve the transport network in Bangkok’s northern zone, in particular a number of new metro railway lines whose construction is expected to be complete in 2018,” said Deputy Transport Minister Ormsin Chivapruck Omsin Chiwaphruek. The seminar was attended by more than 250 people, representatives of both Thai and foreign companies as well as relevant state agencies.
The State Railway of Thailand as the authority responsible for the project will seek approval for private participation under the PPP law and then arrange for such participation via joint ventures and giving them rights for long-term land use.
At the seminar, it was explained that the project’s development would be divided into two parts.
First will be development of the transport infrastructure network and of its surrounding areas for commercial purposes, called Zone D, covering a total of 83 rai. There will be a 1.3-kilometre skywalk to link with the Bang Sue Central Railway Station, BTS’s Mo Chit Station and MRT’s Chatuchak Station, and another 1.4km skywalk to connect to bus stations, costing a total of Bt1 billion.
“The Zone D area, which has development potential for commercial areas totalling around 1 million square metres, is expected to draw in total investment of Bt20 billion,” according to a presentation at the seminar.
For the second part, there will be development of secondary mass transit including a Bus Rapid Transit (BRT) system with a maintenance centre on 7 rai to link with the Phaholyothin Transportation Hub Area.
The BRT project will be 10km in length with 16 bus stops, and will cost about Bt1.7 billion.
