The Industrial Estate Authority of Thailand (IEAT) is speeding up development of the third phase of Map Ta Phut seaport, worth 47.9 billion baht, and has committed to issuing terms of reference (ToR) this month.
The third phase occupies 1,000 rai in Rayong, one of the host provinces of the government’s Eastern Economic Corridor (EEC) scheme.
Somchint Pilouk, the IEAT governor, said the authority is keen on the project after the EEC Policy Committee on Thursday approved four infrastructure projects worth a combined 432 billion baht, with all ToR scheduled to be launched in the same month.
The four projects are the U-tapao aviation city (worth 290 billion baht); a maintenance, repair and overhaul (MRO) centre (10.6 billion); the third phase of Laem Chabang seaport (84.4 billion); and the third phase of Map Ta Phut seaport.
Yesterday, the IEAT ran a third market sounding for 100 local and foreign companies in a bid to attract them to the project.
The Map Ta Phut project will also come in the form of a public-private partnership (PPP), with private entities allotted 70% ownership in total and the government owning the remaining stake.
“We have a time frame to sign the contract with the private side for some time in 2019, and the project will start operations in 2025,” Ms Somchint said.
She forecasts the third phase of Map Ta Phut seaport to generate an economic value of 85 billion baht and financial revenue of 34 billion baht for the government.
Ms Somchint said the IEAT will conduct land reclamation, dredge up watercourses and construct embankments.
Another project comprises two wharves for liquid goods and three more for liquefied natural gas.
The IEAT will allocate 400 rai for five wharves and provide another 150-rai wharf for service cargo and containers.
Map Ta Phut port has 32 wharves with 12 operators. The port has had a compound average growth rate for transferred goods of 5.3% over the past decade.
Last year over 7,000 ships docked there, with more than 44.7 million tonnes of goods transferred.
The port is also the largest petrochemical hub in Southeast Asia.
According to the EEC Office, the government announced that overall investment in the infrastructure projects over the five-year period (2017-21) will be worth 1.7 trillion baht in the EEC scheme, separated into government spending of 300 billion baht, representing 18%, and 1.4 trillion baht in private spending, representing 82%.
Separately, the EEC Policy Committee acknowledged on Thursday that the Digital Economy and Society Ministry had proposed a plan for digital infrastructure in the EEC for 17.9 billion baht.
The government will invest wholly in this project during 2018-22.