China-Thai panel agrees framework for joint investment train project

The China-Thai joint committee has resolved on the framework of the Sino-Thai high-speed train project, in which Thailand will hold 51 percent share and China will hold 49 percent, a local media said.

The framework agreed by the joint committee of the two countries is expected to submit for approval from the Transport Ministry and the cabinet in January, before negotiations begin with China.

According to Supoth Sublom, permanent secretary of the Transport Ministry, the memorandum of understanding (MoU) is supposed to be signed in April.

The project will be a joint venture with the right of routing operation for 30 years and automatic renewable for another 20 years.

Transport Ministry inspector general Chula Sukmanop said earlier that after signing the MoU, both sides would take one year to conduct feasibility studies, covering economics, engineering, survey and designs, and another four years for construction.

The service is likely to launch in 2015.

This high-speed train project consists of five main lines: Bangkok-northern Chiang Mai; Bangkok-northeastern Nong Khai province; Bangkok-northeastern Ubon Ratchathani province; Bangkok- southernmost Padang Besar province and Bangkok-central Chachoengsao province. This railway network will link with railways in Laos, Malaysia and Singapore.
(Source:xinhua)