YOG INFRA Q1 2023 insights
THAILAND sees good interest in planned transport sector projects via PPP mode, across road, airport and rail sector. The development is primarily driven by local Thai private sector players, with support from international investors through JV route.
Read more about key developments in Infrastructure and PPPs in the country in our latest insight.
January 2023
GENTARI AND EVOLT TO EXPAND EV CHARGING NETWORK IN SEA MARKETS
Gentari Green Mobility and Evolt Technology Company Limited (Evolt) have signed a memorandum of understanding (MoU) to expand the electric vehicle (EV) charging infrastructure across Southeast Asia, with a focus on Thailand. Some of the areas the partners will explore include renewable energy and cross-border EV charging.
Gentari and Evolt will explore potential investments for developing public charging infrastructure in commercial locations such as shopping malls, hotels and offices, as well as high-traffic transit hubs.
HSR LINE BETWEEN 3 AIRPORTS IN THAILAND TO BE OPERATIONAL IN 2029
The Don Mueang–Suvarnabhumi–U-Tapao high-speed rail (HSR) in Thailand is expected to be operational in 2029. Also known as the High-Speed Rail Linking 3 Airports Project, this is one of the key developments under the Eastern Economic Corridor (EEC) of Thailand. The Charoen Pokphand Group (CP) led consortium, comprising Bangkok Expressway and Metro Public Limited Company (BEM), China Railway Construction Corporation Limited (CRCC). Karnchang Public Company Limited, and Italian-Thai Development Public Company Limited, will build the THB 224.5 Bn rail line.
The consortium will also operate the system for a period of 50 years, after which it will be transferred to the state. The 220-km-long HSR line will have 9 stations and will be based on the existing airport rail link (ARL) and State Railway of Thailand (SRT) routes, along Bangkok, Samut Prakan, Chon Buri, Rayong and Chachoengsao. Once operational, the line is expected to receive an average footfall of 147,000 passengers per day. Trains will have a maximum operating speed of 250 km/hr.
JERA TO CONDUCT STUDY TO DECARBONIZE EGCO’S OPERATIONS IN THAILAND
Electricity Generating Public Limited Company (Egco), a subsidiary of Electricity Generating Authority of Thailand (Egat), has signed a memorandum of understanding (MoU) with Japan-based JERA Asia Private Limited to jointly conduct a decarbonization study in Thailand.
Under the terms of the MoU, the partners will explore ways to decarbonize Egco’s operations by transitioning to sustainable fuels including hydrogen and ammonia as well as adopting carbon capture, utilization and storage (CCUS) technology. The two firms will study the feasibility of using ammonia co-firing technology at Egco’s BLCP power plant in the Map Ta Phut deep-sea port. The 1,434 MW plant currently uses coal as its main fuel.
February 2023
THAILAND RECEIVES 13 BIDS FOR PHUKET EXPRESSWAY PPP
The Expressway Authority of Thailand (EXAT) has received at least 13 expressions of interest (EoI) for an expressway project in Phuket Island, a popular tourist destination.
Potential bidders can still form joint ventures to submit final proposals for the Kathu-Patong Expressway. The government aims to select a winner for the 35-year concession. Companies that submitted EoIs include China Railway Construction Corporation, China Harbour Engineering Corporation and SRBG Bridge Engineering, which is owned by Chinese state-owned Sichuan Road and Bridge Group.
The 4 km highway will have four lanes, linking the Kathu district in the eastern part of the island to Patong Beach. It will feature two elevated sections and a 1.8 km tunnel and will require an estimated THB 14.7 Bn (USD 437 Mn), including the construction cost of THB 8.6 Bn, as well as THB 3.1 Bn for operations and maintenance. The contract will be in the design, build, finance, operate and maintain model, with the government responsible for land acquisition, estimated to cost around THB 5.8 Bn.
THAI-AUSTRIAN JV TO BUILD USD 65 Mn PLASTIC RECYCLING PLANT
A joint venture between Bangkok-listed PTT Global Chemical (GC) and Austrian plastic manufacturer ALPLA will develop a THB 2 Bn (USD 65 Mn) plastic recycling plant in Thailand’s Rayong province. The plant will be developed and operated by ENVICCO - owned 70% by GC and 30% by ALPLA.
The plant, which is scheduled to begin commercial operations in the fourth quarter of 2021, will use plastic waste produced by other firms to produce 45,000 tons of plastic resins per year. GC already holds the land for the project and will contribute to the team [to operate the asset], while ALPLA will bring its plastic recycling technology to the project.
March 2023
AOT TO INVEST USD 1 BN TO EXPAND TERMINAL AT DON MEUANG AIRPORT
The Airports of Thailand (AOT) will invest USD 1.08 Bn to expand the low-cost carrier terminal at the Don Meuang Airport (DMK) in Bangkok. Works on the expansion will commence during 2029, with the new terminal opening to passenger service in 2029.
Other works include the development of 12 aircraft parking stands and 11 jet bridges as well as DMK’s northern side, including renovation of aircraft parking bays and expansion of the concourses.
The project will increase the terminal’s capacity from the existing 30 Mn passengers to 40 Mn passengers per year.
SUPER ENERGY CORP ALLOCATES THB 41.5 BN FOR RE PROJECTS IN THAILAND AND VIETNAM
Super Energy Corporation will spend THB 41.5 Bn during 2023-25 to finance renewable energy (RE) projects in Thailand and Vietnam. Out of the total allocation, THB 12.4 Bn will be spent in 2023 to develop wind power facilities in Southern Vietnam. Projects in the pipeline include the 30 MW park in SocTrang and a 70 MW near-shore wind farm in Bac Lieu. The remaining budget will be used to finance RE projects in Thailand, including the installation of a 15 Rooftop solar system at Mahidol University.
In 2024, Super Energy will spend around THB 5.5 Bn to develop a 71 MW wind farm in Soc Trang, a rooftop solar system and a waste-to-energy projects (WtE) in Phetchaburi and Nakhon Si Thammarat in Thailand.
For 2025, the company has earmarked THB 23.5 Bn to finance the development of the 200 MW Phuyen Wind Energy project and the 50 MW DAKSong Wind Energy project in Vietnam. The remaining budget will be used for a WtE project in Nonthaburi province in Thailand.
List of Transactions - Thailand Q1 2023
Source: Inframation, YOG INFRA analysis
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