BANGKOK, Thailand – The Eastern Economic Corridor (EEC) Policy Committee has approved the establishment of a new special economic zone to support targeted industries and accelerated progress on the high-speed rail project connecting three airports, January 9. The State Railway of Thailand (SRT) has been tasked with renegotiating the contract under the Public-Private Partnership (PPP) model, with construction expected to begin in April 2025.
Deputy Prime Minister and Finance Minister Pichai Chunhavajira chaired the first EEC policy board meeting of 2025, alongside relevant agencies. The committee reviewed updates on the contract revision for the high-speed rail project led by the CP Group. Further discussions are required between the EEC Office and the SRT to ensure the amendments align with the original PPP principles. The SRT and associated agencies were instructed to proceed under the EEC Track framework, following Article 21 of the EEC Committee’s regulations on PPP investments.
Next steps involve the SRT and CP Group drafting the amended contract for review by the Contract Management Committee and Oversight Board, before submission to the Office of the Attorney General for evaluation. Once finalized, the revised contract will be presented to the EEC Committee and the Cabinet for approval. Upon endorsement, the SRT and CP Group will sign the amended contract, enabling immediate construction commencement.
The EEC Board also approved an additional 714 rai of land for the Eastern Aviation City Zone (EECa), managed by the Royal Thai Navy, to accommodate the construction of a second runway. The design adjustments address aviation safety standards and avoid obstacles near Krok Tabak Hill.
Additionally, the board endorsed the establishment of a special economic zone, Chachoengsao Blue Tech City Industrial Estate, spanning 1,172 rai in Bang Pakong District, Chachoengsao. This zone aims to support the growth of targeted industries, including next-generation automotive, smart electronics, aviation, logistics, digital technology, workforce development, and education. The project is expected to attract an estimated investment of 156 billion baht.
The initiative also promotes local industry by requiring 90% of electric vehicle components used in the area to be sourced domestically, creating 20,000 new jobs. It also provides economic opportunities for local businesses such as shops, hotels, and dormitories, stimulating economic growth from the community level to the national level. (TNA)
