Infrastructure & PPPs in Thailand - Q2 2025 Update
- YOG INFRA
- 22 hours ago
- 10 min read
YOG INFRA Q2 2025 insights
THAILAND is seeing major infrastructure developments, with Airports of Thailand (AOT) launching a large-scale property development strategy around six key airports to attract private investment. There are notable steps to increase e-vehicle penetration rate in the country, with investments from private sector (both domestic and international). The government has also notified a major economic revitalization initiative in transport sector with budgetary allocations made to key agencies to support project procurement.
Read more about key developments in Infrastructure and PPPs in the country in our latest insight for the country.
APRIL 2025
BMTA TO BEGIN FLEET ELECTRIFICATION WITH 500 EV BUSES IN 2025
The Bangkok Mass Transit Authority (BMTA) is set to receive 500 electric air-conditioned buses in 2025 as part of its transition away from natural gas (NGV) buses in Thailand. The delivery is part of a broader plan to lease 1,520 Electric Vehicles (EV) buses over seven years (2025–2032) under a THB 15.3 Bn (USD 45.47 Mn) budget.
BMTA has confirmed the updated clean-energy strategy has been submitted to the Ministry of Transport (MoT). The Office of Transport and Traffic Policy and Planning (OTP) is currently finalising the proposal for Cabinet approval. Despite delays, BMTA anticipates the remaining EV buses will be delivered by 2026.
By 2029, BMTA intends to retire 60% of its 2,300 combustion-engine buses. The agency, operating a fleet of 2,884 buses, expects to significantly reduce operational costs, as EV buses are up to three times cheaper to run than combustion-engine models. Route optimisation efforts are also underway to boost efficiency.
GULF MOVES FORWARD WITH MAP TA PHUT DEVELOPMENT PHASE 3 TO ENHANCE GAS OPERATIONS
Gulf MTP LNG Terminal Company Limited (GMTP), a joint venture company in which Gulf Development Public Company Limited holds a 70% stake and PTT Tank Terminal Company Limited holds a 30% stake, entered a 35-year Public Private Partnership (PPP) contract with the Industrial Estate Authority of Thailand (IEAT) to develop the Eastern Economic Corridor (EEC) Development Plan.
This plan is prepared by the Eastern Economic Corridor Office of Thailand, aiming to develop the Eastern Seaboard into an area with highly efficient infrastructure and utilities to enhance Thailand's competitiveness, one of the key projects under the plan is the Map Ta Phut industrial port development phase 3, located in Map Ta Phut sub-district, Rayong province, covering an area of approximately 1,000 rai.
The scope of the project is divided into two phases as follows:
Phase 1: Infrastructure works including dredging and land reclamation of 1,000 rai, revetment construction, breakwater construction, service terminal, utility works and other relevant works.
Phase 2: Design, construction, and operation of the LNG terminal and regasification facilities (superstructure) on approximately 200 rai of reclaimed land, with an initial capacity of at least 5 million tons per annum (for the first phase of the LNG terminal), expandable up to 10.8 million tons per annum.
The Company is currently preparing for the construction of Phase 2 (superstructure), which includes the LNG terminal and regasification facilities. Construction is expected to start in mid-2025.
Upon completion, the LNG terminal will be used to support the Group's gas business operations. The Group currently holds LNG shipper licenses for the importation of liquefied natural gas totaling 7.8 million tons per annum, to be used as fuel for Gulf PD, Gulf SRC, and Hin Kong power plants. The terminal will be the third LNG terminal in Thailand and will play a critical role in strengthening the country's energy security by enhancing LNG import capacity to meet the growing energy demand from the industrial and power generation sectors in line with Thailand's economic growth.
WIND ENERGY HOLDING SECURES FOUR NEW PROJECTS
Wind Energy Holding Co., Ltd. (WEH), Thailand’s leading wind energy producer, has secured four new renewable energy projects totalling 299.1 megawatts (MW), marking a major milestone in its expansion strategy. With this addition, WEH’s licensed electricity generation capacity has surged by 42% to 1,016 MW, surpassing its longstanding target of 1,000 MW.
The new projects, awarded under Thailand’s Feed-in Tariff (FiT) scheme Phases 1 and 2, include a 30 MW ground-mounted solar plant with energy storage and three wind projects of 89.7 MW each. Backed by THB 15.7 Bn (USD 46.67 Mn) in secured investment, these developments are set to begin revenue recognition in 2027, with full realisation expected by 2030.
MAY 2025
THAILAND’S AOT UNVEILS KEY AIRPORT-ADJACENT DEVELOPMENT INITIATIVE
Thailand’s Airports of Thailand (AOT) has launched a large-scale property development strategy around six key airports to attract private investment and boost the national economy.
The plan opens 46 land plots totalling 2,512 rai (623 acres) for long-term lease, aiming to create new commercial zones near Suvarnabhumi, Don Mueang, Chiang Mai, Mae Fah Luang Chiang Rai, Phuket, and Hat Yai airports. The proposed developments include logistics centres, hotels, shopping complexes, hospitals, and smart city projects. AOT is targeting over THB 28.8 Bn (USD 861.71 Mn) in investment, offering both Crown and freehold land under competitive rental terms.
Key highlights of the development include:
Suvarnabhumi Airport (BKK): Four “Airport Business” plots (548 rai, leasehold) strategically located within the airport precinct, just 9 minutes from the terminal and close to transport links and major roads. These plots are perfect for medical hubs, convention centers, hotels, and residential developments. Additionally, seven “Airport Service and Support” plots (462 rai, freehold) with external access, situated only 15 minutes from the terminal, are ideal for logistics centers, agricultural hubs, and residential projects.
Don Mueang Airport (DMK): The Junction Building, offering 12,000 square meters of commercial space and over 1,000 parking spaces, with future for hotel developments and expanded parking facilities.
Chiang Mai Airport (CNX): Three prime plots (19 rai, leasehold) located near the Chiang Mai-Hang Dong Road, just 13 minutes from the terminal in a bustling area close to the transport station. These plots are well-suited for hotels, office buildings, and commercial complexes.
Mae Fah Luang Chiang Rai Airport (CEI): A generous 762 rai plot located within the airport’s grounds, just 5 minutes from the terminal and offering seamless access to both the city and the main airport road. This prime location is perfect for hotels, office buildings, commercial complexes, premium outlets, and logistics centers.
Phuket Airport (HKT): Seven prime freehold plots (192 rai) situated near Thepkrasattri-Nai Yang Road, the main route to Phuket City, and only 6 minutes from the terminal. These plots are ideal for hotels, convention centers, and medical facilities.
Hat Yai Airport (HDY): A combination of four large and 15 smaller plots (502 rai, leasehold), both within the airport and surrounding areas, adjacent to the main road linking the city and the airport. Just 5 minutes from the terminal, these sites are well-suited for hotels, office spaces, commercial complexes, and logistics hubs.
AOT has highlighted the initiative as essential to increasing non-aviation revenue and supporting Thailand’s goal of becoming a regional aviation hub. Investors were encouraged to plan sustainable, market-aligned projects to benefit local economies and strengthen airport-linked urban growth.
LAEM CHABANG PORT UPGRADE APPROVED UNDER PPP MODEL
Thailand’s Public-Private Partnership model (PPP) Committee has approved a THB 12.8 Bn (USD 383 Mn) investment to upgrade Terminals B1 and B2 at Laem Chabang Port in Chon Buri. The project, to be executed under a PPP net cost model, will consolidate both terminals and extend the berth to handle larger vessels more efficiently. The private sector will be responsible for infrastructure upgrades, equipment procurement, and operations, while the Port Authority of Thailand (PAT) will oversee quality control and receive agreed returns.
The upgrade supports the 13th National Economic and Social Development Plan, aimed at making Thailand a key regional trade and logistics hub. The terminals currently handle up to 600,000 Twenty-Foot Equivalent Unit (TEUs) each and operate under separate 27-year concessions. The PPP Committee also approved updates to the 2020–2027 PPP Investment Plan, which now includes 139 projects worth THB 921 Bn (USD 27.55 Bn) across infrastructure, public health, and environmental sectors.
AMPHIBIOUS HJT: 13.6 MW OF HUASUN SOLAR PANELS ENERGIZE THAILAND
Huasun Energy has reached another significant milestone in Southeast Asia with the successful grid connection of a 13.6 MW heterojunction (HJT) solar project supplied to Sri Trang Agro- Industry Public Co., Ltd. (STA)—a leading rubber manufacturer in Thailand. The project utilizes Huasun’s Himalaya G12-132 HJT modules in a unique “amphibious” deployment model, combining both ground-mounted and floating installations to create a diversified clean energy matrix across multiple regions in Thailand. Under the blazing Thai sun, “Huasun Blue” is now continuously delivering green electricity to STA’s production operations.
With a total installed capacity of 13.6 MW, the project is expected to generate approximately 19.37 million kWh of electricity annually. This translates to an annual reduction of 2,381 tons of standard coal consumption and 19,313 tons of CO 2 emissions, significantly decreasing STA’s dependence on conventional energy sources and contributing to Thailand’s renewable energy transition.
EGAT OPENS BIDDING FOR 50-MW FLOATING SOLAR PROJECT AT VAJIRALONGKORN DAM
The Electricity Generating Authority of Thailand (EGAT) launched the bidding process for its 50-megawatt (MWac) Vajiralongkorn Dam Floating Solar Project, a flagship clean energy initiative in Kanchanaburi Province. Scheduled for commercial operation in 2027, the project aims to harness solar energy by installing photovoltaic panels on the surface of the Vajiralongkorn Dam reservoir.
The Vajiralongkorn Dam Floating Solar Project 1 is part of a nationwide clean energy program under Thailand’s Power Development Plan 2018–2037 Revision 1 (PDP2018 Rev.1) and the upcoming revised PDP. The broader program envisions a total installed floating solar capacity of 2,725 MW by 2030, leveraging EGAT’s existing hydropower dam reservoirs across the country.
EGAT’s hybrid approach combines floating solar with existing hydroelectric infrastructure, enabling optimized resource usage, lower electricity generation costs, and enhanced environmental and social sustainability. The integration of solar panels on water surfaces also minimizes land use and helps reduce water evaporation, offering additional ecological benefits. With this project, EGAT continues to lead Thailand’s transition to clean energy while reinforcing the country’s strategic goal of energy security, affordability, and environmental stewardship.
JUNE 2025
THAILAND ADVANCES KEY RAIL INFRASTRUCTURE PROJECTS THROUGH LATE 2025
The Government of Thailand has announced plans to transform its rail infrastructure from June to December 2025, aimed at boosting connectivity and economic growth. A key highlight is the Phase 2 construction of the Bangkok–Nong Khai High-Speed Railway, extending 357 km from Nakhon Ratchasima to the Laos border. Although full completion is expected by 2032, construction activity will intensify this year, eventually linking Thailand to China via Laos to support tourism and trade.
Other key projects include the relaunch of the Royal Blossom Tourist Train in June 2025, promoting regional tourism through scenic countryside routes, and the introduction of refurbished Japanese KiHa 40 and 48 diesel trains on Bangkok suburban lines to enhance commuter service reliability. Additionally, the Lop Buri 2 Station will open by December 2025, as part of a double-tracking project on the Northern Line, improving capacity and reducing delays.
Cross-border rail service is also set to resume with a direct Bangkok–Kuala Lumpur train, supporting ASEAN integration. Bangkok’s Pink Line monorail will launch full commercial service mid-June, featuring automated driverless technology to ease urban congestion. Furthermore, a flat fare policy of USD 0.55 across electric rail lines will be implemented by September 2025. to encourage public transport use and reduce pollution.
THAILAND SMART CITY WORTH THB 1.34 TRN PLANNED
The Government of Thailand has been investing THB 1.34 Trn (USD 41.21 Bn) to build a smart city in Huai Yai, Chonburi, as part of the Eastern Economic Corridor (EEC) development. The project, also known as ‘Bangkok 2’, will span 14,619 rai (2,340 hectares) and is expected to be completed by 2037. The first phase (2025–2030) will cover 5,795 rai, with key facilities including basic infrastructure, business districts, wellness centres, and mixed-use commercial areas.
The city will support 350,000 residents and generate 200,000 jobs. It will focus on six sectors: finance, healthcare, international education, tourism, BCG industries, and residential development. Upcoming milestones include land clearance by 2027 and full private sector rollout by 2028. Officials aim to position the city among the world’s top 10 smart cities, using Public-Private Partnerships (PPP) models and EEC investment incentives to attract global investors.
THAILAND ALLOCATES THB 48.75 BN FOR TRANSPORT INFRASTRUCTURE
As part of the government’s THB 157 Bn (USD 4.82 Bn) economic revitalisation programme, Thailand’s Ministry of Transport will disburse THB 48.75 Bn (USD 1.49 Bn) to six key agencies. The funding is aimed at fast-tracking infrastructure upgrades, supporting employment, and enhancing regional connectivity and tourism.
The Department of Highways (DOH) receives the largest share at THB 32.18 Bn (USD 989.74 Mn) to address traffic bottlenecks and improve road links to secondary cities.
Department of Rural Roads (DRR): THB 14.72 Bn (USD 452.73 Mn) for road safety and access to production and tourist zones.
State Railway of Thailand (SRT): THB 1.02 Bn (USD 31.37 Mn) for railway safety upgrades.
Department of Airports (DOA): THB 765.9 Mn (USD 23.55 Mn) to improve airport services and safety.
Bangkok Mass Transit Authority (BMTA): THB 42 Mn (USD 1.29 Mn) to ease urban traffic.
Transport Co: THB 14.8 Mn (USD 1.29 Mn) to upgrade bus terminals and promote regional tourism.
All project contracts will be signed by September 2025, with construction beginning the same month. The initiative aims to provide short-term economic stimulus while establishing long-term transport resilience and safety.
ADB SUPPORTS RESILIENT INFRASTRUCTURE DEVELOPMENT IN EASTERN THAILAND
The Asian Development Bank (ADB) and the Government of Thailand signed a USD 68.74 Mn loan agreement to provide resilient connectivity infrastructure to the U-Tapao Airport in the Eastern Economic Corridor (EEC), a manufacturing and innovation hub in eastern Thailand.
The project will provide key access roads to the U-Tapao International Airport by constructing a 1.92-kilometer extension of Intercity Motorway No. 7 and expanding a 5.65-kilometer section of National Highway No. 3 from the Bang Phai River in the west to Motorway No. 7 interchange in the east. The project will also support the development of climate impact monitoring systems, managed by the DOH, and contribute to the country’s transition to a low-carbon transport system.
To ensure resilient infrastructure in Thailand, ADB aims to mitigate the key risks linked to rising temperatures and increasing precipitation in the design and construction of the roads. The project will use green cement and adopt a ‘green campsite’ concept for onsite construction facilities, which incorporates solar panels, energy storage systems, and appropriate waste and water management.
The complete road construction will provide a sustainable land transport network and support the multimodal transport connecting rail, road, and air transport linkage in the EEC, where industries such as smart electronics, agriculture and biotechnology, health care, and digital services are located.
KAREX PARTNERS WITH LEVANTA RENEWABLES FOR ROOFTOP SOLAR PROJECT IN THAILAND
Levanta Renewables, a Southeast Asia-focused renewable energy platform backed by Actis, has signed a 2.2 MWp rooftop solar power purchase agreement (PPA) with Karex to supply clean energy to its manufacturing plant, Innolatex Thailand Limited, located in Hat Yai.
The agreement marks Karex’s first solar energy initiative and will provide the facility with approximately 44 GWh of renewable electricity over a 15-year period. The move is expected to help offset at least 26,000 tonnes of CO₂ emissions, significantly reducing the company’s reliance on conventional grid power and contributing to more sustainable manufacturing practices.
List of Transactions - Thailand Q2 2025
Source: YOG INFRA, Public Information
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