Port contracts at Laem Chabang extended until 2025
Public-private partnership contracts with private partners for the use of the B3 container ship port at Laem Chabang Port in Chonburi province have been renewed, Kamolsak Promprayoon, director-general of the Port Authority of Thailand (PAT), said.
He said the authority had extended contracts due to expire on December 31, 2020 until March 31, 2025.
“Under this extended contract, private partners have agreed to provide fixed fee at Bt680 million to PAT with additional fee at Bt325 per TEU (twenty foot equivalent unit) throughout the contract period, which is increased from the additional fee in the original contract at Bt275 per TEU,” he said.
Kamolsak added that currently the B3 port has net present value of Bt677.16 million at 10 per cent discount rate, with minimum guarantee of containers passing though at 420,000 TEU per year, compared to 300,000 TEU per year in the original contract.
Port Authority of Thailand has allowed private partners to jointly invest in the Laem Chabang Port in the first and second phases since 1991, whereas the public-private partnership contracts have been regularly revised to suit the current maritime shipping industry, he said.