ส.อ.ท. ประชุม กพอ. ครั้งที่ 4/67 เห็นชอบหลักการแก้ปัญหาโครงการรถไฟความเร็วสูงเชื่อมสามสนามบิน และปรับการดำเนินโครงการศูนย์ซ่อมบำรุงอากาศยานอู่ตะเภาFTI Approves Principles for Resolving High-Speed Rail Project Connecting Three Airports and Adjusts Operation of U-Tapao Aircraft Maintenance Center

On October 11, 2024, Mr. Kiangkhrai Thiennukul, Chairman of the Federation of Thai Industries (FTI), appointed Mr. Chalerm Koknuthaphorn, Secretary-General of the Eastern Industrial Group, as his representative to attend the 4th meeting of the Eastern Economic Corridor Policy Committee (EECPC) of 2024, chaired by Deputy Prime Minister and Minister of Finance Mr. Pichai Chunhawan. Mr. Chula Sukmanop, Secretary-General of the Eastern Economic Corridor Policy Committee (EEC), acted as the meeting's secretary at Meeting Room 301, Government House.

During this meeting, the EECPC considered and reached important resolutions as follows: 

1. Approved the principles for resolving issues related to the high-speed rail project connecting three airports by revising the joint investment agreement to ensure the project can continue without disadvantage to the government and without excessive benefit to the private sector. The proposed adjustments to the agreement will be submitted to the Cabinet (Cabinet) for consideration on five points, including 
1) Payment method for the Public Investment Cost (PIC) from the government, reducing the previous commitment of 149,650 million baht to be paid in installments based on the progress of work certified by the State Railway of Thailand (SRT) not exceeding 120,000 million baht. The private sector is required to provide additional guarantees from the original agreement totaling 160,000 million baht to ensure construction and service commencement of the high-speed rail within five years. Ownership of the construction will gradually be transferred to the government (SRT) as installments are paid. 
2) Payment schedule for the rights to co-invest in the Airport Rail Link (ARL), allowing the private sector to pay the rights amounting to 10,671.09 million baht in seven equal annual installments, with the first installment due upon signing the agreement revision. The private sector must provide a guarantee letter from a bank equal to the rights cost of ARL and other financial obligations borne by SRT. 
3) Additional revenue sharing benefits if future loan interest rates decrease significantly, resulting in the private sector receiving benefits (IRR) exceeding 5.52%. SRT will have the right to request increased revenue sharing based on subsequent agreements. 
4) Exemption from the condition of issuing a Notice to Proceed (NTP), allowing contracting parties to create a memorandum to waive any unmet NTP conditions, enabling SRT to issue the NTP immediately upon signing the revised agreement based on all these principles. 
5) Prevention of future issues that may impact the project's financial status by revising the contract terms related to force majeure and extension conditions to align with the joint investment agreement between the government and the private sector in other projects. The EECPC resolved that the Office of the Eastern Economic Corridor Policy Committee (OEEC) should propose the principles of resolving these issues to the Cabinet for their agreement on revisiting the Cabinet's resolution dated March 27, 2018, and enable the contracting parties to negotiate the draft amendment contract for review by the project oversight committee and then submitted to the Attorney General for consideration before presenting to the EECPC and the Cabinet for further approval ahead of the contracting parties signing the amended agreement.

2. Approved modifications to the operational approach for the U-Tapao Aircraft Maintenance Center due to Thai Airways International Public Company Limited no longer being a state enterprise since 2020, making it unable to act as the project owner for the Aircraft Maintenance and Overhaul (MRO) at U-Tapao Airport. The OEEC noted that this project is essential for the development of U-Tapao Airport and enhancing Thailand's aircraft maintenance service capabilities while raising the skills of aviation technicians to meet international standards. It is necessary to drive the project's operation forward appropriately according to changing circumstances. The EECPC has agreed to modify the operational approach by canceling its designation as a joint investment project as approved by the Cabinet on October 30, 2018. The OEEC will proceed to seek lessees for state land in the promotional zone: Eastern Aviation City (EECa) to conduct the Aircraft Maintenance Center activities per Section 53 of the Eastern Economic Corridor Development Act B.E. 2561 and the regulations of the Eastern Economic Corridor Policy Committee regarding criteria, methods, and conditions for leasing state land designated as a special economic zone B.E. 2562. The OEEC will present the Cabinet with the EECPC's resolutions for acknowledgment and consider revoking the relevant Cabinet resolution from October 30, 2018.

3. Acknowledged the progress in developing the Eastern Special Development Zone, particularly in enhancing the special economic zone, developing infrastructure for transportation through four major projects, and attracting investments in five special target industrial clusters: medical and health, digital, modern automotive, BCG economy, and services. From January 2023 to September 2024, the OEEC successfully attracted 139 investors, with interest in investments across these five cluster groups. A Letter of Intent (LOI) has been signed by 35 investors for a total of 36 projects. Project proposals have been submitted for benefits under the EEC law for a total of 12 projects, with an investment value of approximately 135,000 million baht.