All posts tagged Economics

Bt561 bn worth of homes on sale in EEC

Published September 20, 2019 by SoClaimon

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

Bt561 bn worth of homes on sale in EEC

Sep 20. 2019
By Somluck Srimalee
The Nation

367 Viewed

Property firms have built Bt561.2 billion worth of residences in the area of the fast-developing Eastern Economic Corridor (EEC) spanning Rayong, Chonburi and Chachoengsao, where half a million more people are expected to settle this year through 2023.

A survey by the Government Housing Bank’s Real Estate Information Centre found that, as of June 30,954 residential projects were for sale in the three provinces, representing 185,179 units and a combined worth of Bt561.21 billion.

Chonburi had the most – 664 projects with 136,273 units worth Bt435.92 billion, following by Rayong and Chachoengsao respectively (see graphic).

Several property firms have unveiled more residential project in the EEC area in the third quarter of this year.

Origin Property Plc and Dusit Thani Plc announced a condominium project for Chonburi’s Sri Racha district named Hampton Sriracha, worth Bt1.4 billion.

Pruksa Real Estate launched two new projects worth Bt2 billion in Chonburi in July and Golden Land Property Development has Golden Town Chachoengsao, worth about Bt1 billion.

SC Asset Corp has single-detached homes at Pave Ban Pho-Chachoengsao worth Bt750 million, where the starting price is Bt4 million. Supalai has plans for residential projects worth up to Bt3 billion.

“We expanded our investment in the EEC when we saw the strong demand coming from new businesses registering to move to the area,” Pruksa chief executive Piya Prayong said.

The Commerce Ministry reports that 61,284 firms are listed to operate in the EEC with combined registered capital of Bt1.7 trillion, a dramatic jump from the 6,800 listed in 2017.

More than 10,800 of those firms – claiming registered capital of Bt72.6 billion – are engaged in real estate, nearly half of them joint ventures with partners in Mainland China, Japan, Taiwan and Hong Kong.

The government anticipates creating 500,000 jobs in the EEC, mainly in “S-curve industries” like industrial robotics, aviation, logistics, biofuel and bio-chemicals, and digital and medical technology.

Based on aggressive investment since 2017, infrastructure including a high-speed railway and an aviation hub will be built this year and next, further boosting demand for homes.

Real Estate Information Centre acting director-general Wichai Viratakaphan said 57,314 units together worth Bt102.6 billion were transferred to purchasers throughout 2018, an increase of more than 20 per cent from 2017.

“We saw strong demand for homes in the EEC in 2017 and 2018, but growth was slight in the first half of this year after the Bank of Thailand introduced the loan-to-value policy, which directly affected demand in the property market across the country,” Wichai said.

Demand for homes is still rising in the EEC, however, and faster than last year, with prices still not exceeding Bt5 million per unit, he said.

Land prices are also on the rise there. The Finance Ministry’s Treasury Department revises prices nationwide every four years and will announce new baht-appreciated prices in 2020 that is expected to increase the average by 10-20 per cent over the amounts of four years ago.

“Land prices in the EEC have increased by as much as 100 per cent due to demand from both industry and property developers,” a department source said.

“Industrial and corporate expansion also requires homes for the workers,” a property expert said on condition of anonymity. “The challenge for property firms is how much to expand their investments now that major infrastructure is coming, including the high-speed railway linking Don Mueang, Suvarnabhumi and U-tapao airports, Map Ta Phut Phase 3 and the aviation hub. All of these will boost investment for related industry and the necessary supply chain.”


Developers shift to detached houses of Bt5-7 million: Plus survey

Published September 20, 2019 by SoClaimon

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

Developers shift to detached houses of Bt5-7 million: Plus survey

Sep 19. 2019

534 Viewed

Developers are shifting towards real demand to serve the local need for detached houses, and the market for houses priced at Bt10 million and above is growing, according to research by Plus Property Co Ltd.

The full-service professional property and facility management agency, has revealed findings from its survey of the market for detached houses in the first half of 2019, during which major developers were found to be shifting toward the low-rise market.

Property in the Bt3-5 million and Bt5-7 million price ranges remain the dominant segments in the market, but the Bt10 million and above price segment has experienced a growth surge in both supply and demand. The latter segment serves clients with middle-upper incomes who seek real residency and are negligibly affected by economic volatilities.

Supply and demand are expected to retain a steady growth pace in the latter half of 2019. Owing to the cost of land, new projects priced at or above Bt5 million are expected to become more prominent, with a corresponding tendency for diminishing launches of projects with price tags around Bt3 million.

Developments in the economy, changes in mortgage measures, and the policy interest rate should be carefully monitored, according to the findings of the firm’s research and development division.

Findings by the division point to a marked shift by property developers toward detached houses, said Suwannee Mahanarongchai, the deputy managing director for business strategies and asset management at Plus Property. This has resulted in improved growth of the market for detached houses in the first half of 2019.

Compared to the same period of previous years, there was growth in both demand and supply. But growth decelerated in comparison to the second half of 2018, due to developers last year having rushed to release their stocks before the mortgage control measure came into effect in early 2019.

Suwannee Mahanarongchai

Suwannee Mahanarongchai

In this survey cycle, the supply on offer – 16,369 units in total – expanded by 2 per cent from the same period of the previous year, attributable to an increase in units on sale at existing and newly launched projects. Total demand, amounting to 6,198 units, a 15 per cent increase from the same period of the previous year; the sales ratio was 38 per cent.

Data also revealed a growth increase in the detached house segment of Bt10 million and above. The bump reflects a change in tactics by property developers to increase their focus on developing projects that cater to upper-income clients as they are only negligibly impacted by the mortgage control measure and other economic headwinds. However, these clients make up only a small portion of the entire detached houses market, with other price segments more dominant.

A look at the overall scene of the market for detached houses within Greater Bangkok, finds a total of 16,369 units of supply available during the first half of 2019. The Bt3-5 million price range had the largest market share at 35 per cent (5,671 units). The Bt5-7 million price range came in a close second, with a 31 per cent share of the market (5,065 units). The Bt7-10 million range had a 15 per cent share (2,515 units), while the Bt10-20 million price range had a 10 per cent share (1,709 units). The Bt20-40 million segment had a market share of 4 per cent (711 units), while the Bt30-40 million price range constituted 2 per cent of the market (305 units). The price range of Bt40 million and above had a market share of 2 per cent (300 units). At the other end of the spectrum, the segment with units priced lower than Bt3 million had just a 1 per cent share of the market (93 units).

At the same time a total of 6,198 units of demand were generated in the first half of the year – equivalent to a 38 per cent sales ratio. This demand figure grew by 15 per cent from the same period of the previous year but declined by 16 per cent from the second half of 2018. This can be explained by the rush to release existing stock before the new mortgage control measure was to take effect in early 2019. As a result, property purchase decisions by consumers surged during 2018’s second half. Nonetheless, demand figures increased within every price range in this survey cycle when compared to the same period of the prior year. The price range that saw the highest increase in demand comprised detached houses selling for Bt10 million and above; demand in this segment surged by about 40 per cent to 1,158 units.

As for the dominant price segments of Bt3-5 million and Bt5-7 million, demand increased by 4 per cent and 22 per cent, to 2,418 units and 1,733 units, respectively. The Bt7-10 million segment saw demand increase by 2 per cent to 848 units. Within this survey cycle, demand for detached houses priced at Bt5-7 million – currently one of the two main price ranges in the market for detached houses and one which has continuously experienced demand growth – increased noticeably within the northeastern and western zones of Greater Bangkok. More specifically, the demand surge was observed in the Khlong Sam Wa and Lat Krabang areas within the northeastern zone, and the Bang Yai and Phutthamonthon areas within the western zone. The stated localities offered linkages to the city centre and possessed large shopping malls that are able to facilitate convenience for the residents of those localities.

“For the latter half of 2019, supply and demand of detached houses are expected to continue growing at a steady rate. To fight for market share amidst increased competition, developers would have to continue placing emphasis on new projects that answer to the lifestyles of present-day consumers,” said Suwanee.

The number of new projects with prices between Bt5-7 million are expected to grow, whereas there is a tendency for a decline in launches of projects with prices between Bt3-5 million, the currently most dominant segment of the detached houses market, he said, attributing it to rising land prices.

“This means developers need to adjust their offer prices to become more appropriate. Domestic and external economic factors, any revision to the mortgage control policy, and any reduction of the policy interest rate by the Bank of Thailand will have effects on purchasing power in the latter half of the year,” said Suwannee.

Krungsri Bank to leverage synergies in second half to continue growth

Published September 20, 2019 by SoClaimon

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

Krungsri Bank to leverage synergies in second half to continue growth

Sep 20. 2019
By The Nation

1,148 Viewed

Krungsri (Bank of Ayudhya PCL) on Thursday (September 19) said its commercial banking business strategy in the second half of 2019 includes synergising Krungsri’s local strength with Mitsubishi UFJ Financial Group (MUFG)’s global network to provide superior financial services that serve the different needs of corporate customers and small- and medium-sized enterprises (SMEs).

Krungsri also aims to become a trusted banking partner, as it builds non- interest income and fee income through solutions that help enhance business efficiency.

Pornsanong Tuchinda, Krungsri’s chief of commercial banking, said in the first half of 2019, Krungsri’s commercial banking group achieved growth target, while non-interest income rose beyond target.

Despite uncertainty in global trade and economics, Krungsri customers have been highly adaptive to changes in business environment, he said, adding that the commercial banking group emphasises on adjusting balanced portfolio to enhance quality management and strengthen overall operations. With ongoing volatility of economic conditions, Krungsri is strongly committed to supporting business customers consistently and sustainably, he said. It also continues to focus on the remarkable strength of synergies between Krungsri’s local expertise and MUFG’s global network, enabling us to provide differentiated financial services and introduce new risk management products that help mitigate currency and interest-rate risk, he added.

The bank also provides advice, knowledge sharing and networking activities through Krungsri Business Empowerment, designed to help our corporate and SME customers extend business potential and create strength in the long run. “We have also developed several digital platforms to offer more convenient and cheaper services to help our customers enter the digital economy era,” he said.

Metinee Jongsaliswang, Krungsri’s head of corporate banking group, said: “Krungsri gives priority to customer-centricity strategy and upgrades our services to become a thought partner, as well as provides comprehensive financial solutions via digital platforms to serve every aspect of customers’ needs. The strategies helped the performance of Krungsri’s corporate banking to exceed target in the first half, with total revenue increasing 6 per cent from the same period a year earlier, supported by an increase in fee income, such as derivative fees, investment banking fees, and those from domestic trade transaction.

“The growth helped boost the proportion of non-interest income to 25 per cent of total revenue from 18 per cent a year earlier. Through the collaboration with MUFG, Krungsri has enhanced capabilities to facilitate offshore business expansion, business matching and joint venture for corporate customers, which resulted in the strong growth of Krungsri’s corporate banking.”

Sayam Prasitsirigul, Krungsri head of SME banking group, said: “Krungsri’s SME banking group posted strong growth that exceeded our target. In the first half of 2019, loans for SMEs grew 8 per cent from the end of 2018, mainly due to outstanding performance of supply chain business, while deposits also posted robust growth of 8 per cent.

“Another strong area was fee income from trade finance, which rose 8 per cent from the same period a year earlier, as a result of the collaboration with MUFG. Fee income from cash management increased 26 per cent from a year earlier. On the asset quality, Krungsri SME has managed assets efficiently, with non-performing loan for the SME segment at 3.4 per cent in the first half of 2019, less than 3.8 per cent at the end of 2018 and lower than the industry average,” he added.

Nestle opens institute to solve plastic problem

Published September 20, 2019 by SoClaimon

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

Nestle opens institute to solve plastic problem

Sep 19. 2019

673 Viewed

Nestle officially inaugurated its Institute of Packaging Sciences in Lausanne, Switzerland on Thursday (September 19).

This first-of-its-kind facility will help the multinational giant to bring functional, safe and environmentally friendly packaging solutions to the market and to address the global challenge of plastic packaging waste.

Mark Schneider, Nestle’s CEO, said: “Our vision is a world in which none of our packaging ends up in a landfill or as litter. To achieve this, we will introduce reusable packaging solutions and pioneer environmentally friendly packaging materials. Furthermore, we support the development of local recycling infrastructure and deposit schemes to help shape a waste-free world. The Nestle Institute of Packaging Sciences enables us to create a strong line of sustainable packaging solutions for Nestle products.”

The Institute of Packaging Sciences focuses on a number of science and technology areas, such as refillable or reusable packaging, simplified packaging materials, recycled packaging materials, high-performance barrier papers as well as bio-based, compostable and biodegradable materials.

Stefan Palzer, Nestle CTO said: “Reducing plastic waste and mitigating climate change effects through cutting-edge technology and product design are a priority for us. Nestle experts are co-developing and testing new environmentally friendly packaging materials and systems together with our development centres, suppliers, research institutions and start-ups. Located at our Nestle Research facilities in Lausanne, the institute also leverages our existing research capabilities in food safety, analytics and food science.”

Sander Defruyt from the Ellen MacArthur Foundation said: “Nestle was one of the first companies to sign the New Plastics Economy Global Commitment, setting concrete targets to eliminate plastic waste and pollution at the source. It is great to see the world’s largest consumer goods company now increasing its research focus and capacity to deliver on these ambitions.”

Nestle is already making progress towards its 2025 packaging commitments and has launched novel packaging solutions. For example, Nestle packaging experts and suppliers developed products in recyclable paper packaging such as the Nesquik All Natural cocoa powder and the YES! snack bars in under 12 months.

JKN looks to export local content throughout Asia

Published September 20, 2019 by SoClaimon

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

JKN looks to export local content throughout Asia

Sep 19. 2019
By The Nation

637 Viewed

Thailand’s content management and distribution company JKN Global Media will export more local content to international markets as part of its strategy to become the leading content provider in Asean, chief executive officer Jakkaphong Jakrajutathip said.

The company has already brought Channel 3 soap opera content to some countries in Asean as well as to South Korea. It is expected to soon close a deal with a Japanese partner to promote the soap opera on digital TV channels in Japan.

Because Thai content is seeing increased popularity, Jakkaphong said this is the time for the company to boost its overseas revenue. Its entry to the Korean market will pave way for the company to jump into other regional markets.

JKN has also continued to bring more foreign content to Thailand’s digital TV channels, as well as joining with local and foreign partners to produce a variety of content including documentaries and for TV.

Next year it will focus on broadcasting its content on an online platform.

The company is expected to generate revenue of Bt1.6 billion this year, up 15 per cent year on year. The company achieved revenue of Bt870 million in the first half of this year with a net profit of Bt150 million.

JD Central marks first year’s success with shopping fest

Published September 20, 2019 by SoClaimon

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

JD Central marks first year’s success with shopping fest

Sep 19. 2019

804 Viewed

JD Central, an eCommerce technologies and online retail business, is celebrating its first anniversary of operations in the country with the launch of “B1RTHDAY JOY SHOPPING FEST” campaign, offering special deals to customers for their continuing support.

The company set out to build a strong and efficient e-commerce infrastructure through its online shopping platform for the trust of consumers.

Rvisra Chirathivat, Chief Marketing Officer said “JD Central has realised its plan and expectations after the official launch on September 28, 2018. Today, we have achieved more than four million downloads with a 35-fold increase in orders, 2,000 registered official stores, and a 100 million platform visitors within just a year. These impressive records reflected the success of  our customer-centric strategy, offering quality products with 100 per cent authenticity and fast delivery. JD Central also solves online customer pain points by delivering products within 24 hours nationwide. It is even faster in Bangkok where customers may receive online orders  in a couple of hours.  We also use data analysis technologies to create marketing strategies for direct communication to consumers.

“In addition, JD Central gives priority to the rights of online consumers. Recently, we signed an MoU with the Foundation For Consumers (FFC) and other related government parties to underscore our responsibilities to our clients. We would like to express our gratitude to customers, brands and partners for their support and collaboration throughout the first year of our operations. We believe it will continue well into the future,” Rvisra said.

In the first year,  JD Central focused on building a strong e-commerce infrastructure through collaboration with government agencies, aiming to boost Thai SMEs’ competency in cross border trade, e-logistics integration and development, backed by technologies including online consumers’ right protections.

Meanwhile, Rvisra said, the company had teamed up with various brand partners for  “O2O strategy”,  which has been implemented within the Central Group as well as other services, such as banks, restaurants, telecommunications and applications. It not only provides customers with more channels for shopping and product selection, but also expands our service to meet their demands for easy access to products and services.

One of key factors of our success is the “JD Thailand Official Flagship Store”, formed  under a partnership between JD Central and in China, which has widened the opportunities  for cross-border selling by Thai entrepreneurs, Rvisra added.

U City building major international school next to Thana City

Published September 20, 2019 by SoClaimon

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

U City building major international school next to Thana City

Sep 19. 2019
Cameron Fox, the Founding Head of VERSO International School

Cameron Fox, the Founding Head of VERSO International School

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U City Plc, an affiliate of BTS Group Holdings Plc, and Fortune Hand Ventures Ltd of Hong Kong have announced a Bt5-billion investment in Verso International School, whose state-of-the-art campus will occupy a vast property next to the Thana City estate in eastern Bangkok and which is set to open in August 2020.

The school will have capacity for 1,800 students from pre-nursery to Grade 12.

“It is my long-term goal to create something that will benefit future generations, not only to add value to our business,” said Keeree Kanjanapas, chairman of BTS Group Holdings and U City.

“I have always aimed to invest in human resources, and eventually found the right partner, Fortune Hand Ventures, to build an international school that truly provides an innovative and highly progressive educational experience in Bangkok.

“At the same time, we are transforming one of the company’s assets next to our Thana City estate on Bangna-Trat Road into a value-accretive property for the future. Located on 168 rai, this is set to become the largest international school in the Bangkok metropolitan area. It will be approximately 60 per cent green space to provide students with comfort, emotional safety, and intellectual and artistic inspiration.”

Keeree Kanjanapas, chairman of the board of directors of BTS Group Holdings Plc and U City Plc

Fortune Hand Ventures’ participation represents the largest single foreign investment in international schooling in Thailand.

With experience in education dating back over half a century, Fortune Hand Ventures will directly operate the school under the stewardship of founding headmaster Cameron Fox.

The starting point for the project, said Fox, was a simple question: How can we design a new international school that will truly prepare its students for a world that is changing faster than at any other time in human history?

He invited the global design and innovation firm Ideo to help imagine what such a school of the future could and should be.

“Working closely with Ideo’s San Francisco studio, a highly talented team used a human-centred design approach to create Verso’s dynamic and compelling vision for the future,” Fox said. “The opportunity to design and build a school of this magnitude from scratch represents a unique opportunity for the Verso team to positively impact the future of school designs on a global scale.

“We have re-engineered a comprehensive set of American educational standards to form the foundation for Verso’s own ‘Future-Ready’ curriculum. Learning will be interdisciplinary, project-based, and skills-focused.”

Cameron Fox

Verso comes at an opportune moment in the wake of structural shifts in the global economy towards Asia and Thailand’s ongoing efforts to digitise its economy. Leading organisations and companies are seeking a new generation of leaders and innovators who have the skills and mindset needed to respond quickly to change while positively impacting the world around them.

Thailand’s Eastern Economic Corridor, which is projected to attract up to 100,000 people to the region annually, is increasing the need for international schools in the eastern part of Bangkok. This reality has influenced U City’s decision to transform its property into an innovative international school that will cater to this anticipated economic growth.

According to the International Schools Association in Thailand, the Kingdom is Southeast Asia’s fastest-growing international school market, with double-digit growth for the past eight years.

Piyaporn Phanachet, chief executive of U City, said the school will be just four kilometres from Suvarnabhumi Airport and close to future Light Rail Transit on the Bangna-Suvarnabhumi line.

Thana City and the surrounding area are poised to become a top-class community ecosystem with an extensive range of amenities within easy reach. This will include condominiums and homes and shopping and lifestyle destinations such as Mega Bangna, Central Village, Thana City’s world-class golf course, restaurants and the newly opened Eastin Thana City Golf Resort.

Piyaporn Phanachet, Chief Executive Officer of U City Plc


Banpu beefs up Energy Technology Group backed by ‘Greener & Smarter’ technology

Published September 20, 2019 by SoClaimon

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

Banpu beefs up Energy Technology Group backed by ‘Greener & Smarter’ technology

Sep 19. 2019

669 Viewed

Banpu Public Company Limited has reinforced the team of top executives handling its Energy Technology Business Group.

James Rama Phataminviphas serves as chief executive officer and Kanokwan Jitchobtham as managing director of Banpu Infinergy Co Ltd, along with Chanit Suwanparin as managing director of Banpu Electric Vehicle Business.

The firm said it was gearing up the business group “towards innovation and technological development with a ‘Greener & Smarter’” and an international business model that “builds on smart city solutions”.

“To achieve sustainable growth, Banpu consistently ensures that we stay abreast of abrupt changes in technology and consumer demands in the digital era,” said CEO Somruedee Chaimongkol. “While the energy trend is today shifting towards decarbonised, decentralised and digitalised power generation, Banpu has introduced the ‘Greener & Smarter’ strategy across our three core business groups – Energy Resources, Energy Generation and Energy Technology – to bring about synergised effects of this implementation.

“We are continuingly engaged in energy technology research and development alongside constant development of our people, business operations and management. Most recently, we have strengthened our high-level management team with appointment of business executives who are well-versed in technology and have insightful understanding of consumer behaviour and needs.”

James is responsible for business planning and strategies as well as overall management of the Energy Technology Business Group. Under his guidance, the group will ensure its alignment with the Greener & Smarter strategy and become more competitive with expanded capability to offer a more comprehensive array of products, services and solutions.

James has more than 24 years of multi-industry experience that spanned banking, finance and telecommunication. He is an executive keen on technology-driven business transformation to achieve greater efficiency and competitiveness.

In the banking sector, he was most recently country head of Channels and Digitalisation at United Overseas Bank (Thai), with more than 1,500 people under his leadership. He also has extensive work experience in overseas telecommunication markets including the US and China.

Kanokwan continues as managing director of Banpu Infinergy, a one-stop provider of total solar energy and smart city services. Her key responsibilities include company management, business development and pursuit of new opportunities to strengthen the group’s business portfolio.

Kanokwan spent more than nine years working in Banpu’s legal department, where she was engaged in contract management and project M&A in many countries where Banpu invested. She was also part of the management team steering its major restructuring and she was one of the founding members of Banpu Infinergy, giving her a deep understanding of the various business units.

She stays alert for growth opportunities and partnerships that will further strengthen the business ecosystem, such as investment in Sunseap Group, Durapower Technology (Singapore) and Fomm Corp.

Chanit will lead the EV business unit with a “mobility as a service” concept, which is focused on offering end-to-end electric vehicle and mobility services by combining hardware and software technologies to address current urban needs.

He will also explore opportunities to extend the group’s capability and competitiveness in terms of technology and integrated solutions as well as delivery of all-encompassing services to customers.

Chanit has more than 30 years of management experience in key roles at many leading companies. He is recognised for his ingenuity and product development acumen, which often use innovation to add values to products and increase overall competitiveness.

Prior to joining Banpu, he was managing director at TAC Consumer, where he was part of the executive team that successfully listed it on the Market for Alternative Investment. Career highlights include key positions at Green Spot (Vitamilk), Cerebos (Thailand) and Unilever Holdings (Thailand), as well as at the Marketing Association of Thailand.

“We are confident that the strengthened team will contribute significantly to extend BANPU as a leading supplier of integrated energy solutions with service that are always abreast of consumer behaviour and global energy trends,” said Somruedee.

Orange Line completion first of dozen delayed projects scrutinised

Published September 20, 2019 by SoClaimon

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

Orange Line completion first of dozen delayed projects scrutinised

Sep 20. 2019


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The Transport Ministry will on Friday (September 20) present the council of economic ministers with details on completing the western section of Bangkok’s Orange Line mass transit route.

The details cover civil works and the installation of an electrical system on the Min Buri-Bang Khun Non section. The project will cost Bt120 billion.

The western segment runs between the Thailand Cultural Centre and Bang Khun Non.

The Mass Rapid Transit Authority of Thailand project would be developed on a public-private partnership (PPP) basis.

Transport Minister Saksayam Chidchob said the project, if approved, would be forwarded to the Cabinet soon.

There are 11 mass transit projects in the ministry’s 2018 Action Plan awaiting Cabinet approval:

• Civil works on the southern extension of the MRT Purple Line between Tao Poon and Rat Burana (worth Bt77 billion)

• Phase 3 of the Laem Chabang Deep Sea Port (Bt84 billion)

• Maintenance-repair-and-overhaul facilities for U-tapao International Airport (Bt10 billion)

• Double rail tracks for Jira-Ubon Rachathani (Bt37 billion)

• Double rail tracks for Khon Kaen-Nong Khai (Bt26 billion)

• Double rail tracks for Hat Yai-Padang Besar (Bt8.1 billion)

• Double rail tracks for Pak Nam Po-Denchai (Bt62 billion)

• Double rail tracks for Chumpon-Surat Thani (Bt24 billion)

• Double rail tracks for Surat Thani-Hat Yai-Songkhla (Bt57 billion)

• Double rail tracks for Denchai-Chiang Mai (Bt59 billion)

• Procurement of new aircraft for Thai Airways International (Bt150 billion).

Deputy Prime Minister Somkid Jatusripitak said the economic ministers want to speed development of the delayed mass transit projects.

He said measures to boost exports and tourism would also be presented to the council in the next two weeks.

No decision yet on LNG import plan

Published September 20, 2019 by SoClaimon

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

No decision yet on LNG import plan

Sep 20. 2019
File  photo credit: Petronas : Petronas LNG facilities

File photo credit: Petronas : Petronas LNG facilities
By The Nation

1,198 Viewed

Energy Minister Sontirat Sontijirawong said on Thursday that the ministry has yet to decide on the plan to import 1.5 million tonnes of liquefied natural gas (LNG) annually from Malaysia’s Petronas LNG.

He was responding to a report which suggested that the ministry had cancelled an auction organised by the Electricity Generating Authority of Thailand(Egat) for the imports of LNG for eight consecutive years, estimated to worth more than Bt 100 billion. Egat uses LNG as input for electricity production.

“Egat is still negotiating with Petronas, we have not reached a conclusion,” he said.

Should Egat and Petronas agree on the deal, it still have to be forwarded for consideration by the Energy Policy Administrative Committee(EPAC), Sontirat said.

The Energy Ministry wanted Egat to buy LNG on the spot market, starting with small amounts and not exceeding 90,000-180,000 tonnes per purchase.

Large amounts of import will lead to higher costs for storage and electricity production and could have an impact on consumers.

Another issue involves the advance payment condition, which may increase the financial burden on Egat. Sontirat said the ministry will appoint Kulit Sombatsiri, within September 24, the new chairman of Egat in replacement of the previous chairman who had resigned. Kulit, currently Energy Ministry’s permanent secretary, is expected to solve many issues as the next chairman of Egat.

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