South Korea shows interests in high speed train investment

BANGKOK, Sept 3 (TNA) -- Transport Ministry said that South Korea has expressed its interests to jointly invest in Thailand high speed train project linking between Bangkok-Rayong province and Bangkok-Hua Hin resort town. Deputy Permanent Secretary of Transport Peraphon Thawornsupacharoen said that a meeting between the ministry's working committee and the South Korean officials at the end of the week, the South Korean delegation has expressed the country's interests to be the investors for Thailand new rail system projects, especially on the high speed train project linking between Bangkok and Rayong province. He said the ministry had clarified to the South Korean officials that the project would be carried out under Public-Private Partnership (PPP), where the Thai private sector is allowed to look for their own alliances for joint investments from abroad. He pointed out that the project is currently still being studied before the design and details could be mapped out, after which both would have to be approved by the committee on PPP Policy, which is chaired by Deputy Prime Minister for economic affairs Somkid Jatusipitak. Mr Peraphon said all procedures of the project should completed by the beginning of 2017 and the recruitment for investors would begin afterwards. He further noted that apart from talks at the working level group, Transport Minister Arkhom Termpittayapaisith is also scheduled to officially visit the South Korea for talks at the ministerial level as well. A cooperation agreement on the joint development of the railway project is expected to be signed. The Thai side also notified the South Korean officials of its plans to construct a tram system in the country. The ministry has targeted to turn the tram system into one of the most important transportation systems in the popular tourists destinations, such as Phuket, Chiang Mai, Khon Kaen and Nakhon Ratchasima, expressing that South Korea is welcomed to invest in the project. The South Korean delegation responded by saying they would take the suggestion into consideration. (TNA)