NAKHON RATCHASIMA: Suphachai Chearavanont, CEO of Charoen Pokphand (CP) Group, has reaffirmed the company's commitment to investing in the 225-billion-baht high-speed railway linking three major airports, despite it being considered a high-risk investment.
Suphachai: Project ‘worth the risk’
The company will keep pushing for the project to materialise for the benefit of the country, he told a seminar in Nakhon Ratchasima attended by more than 400 business leaders from around the world.
A CP-led consortium won the concession to develop the planned rail link between Bangkok's Don Mueang airport, Samut Prakan's Suvarnabhumi airport and Rayong's U-Tapao.
It is one of five megaprojects under the government's much-touted Eastern Economic Corridor (EEC).
Mr Suphachai said there is no guarantee of a high return but the company decided to invest in it to help stimulate economic development to help the kingdom prosper.
"Even though it has high risks, CP Group will have to make the most of its knowledge and abilities and enlist the help of high-calibre people from around the world to make it a success," he said.
The high-speed train project will contribute to urban development and a fairer distribution of wealth and income, he said, adding the country will benefit from foreign investors bringing knowledge to improve the skills of local workers.
Mr Suphachai said the project will make Thailand a regional hub in Asean, which in turn would help boost growth in the CLMV grouping (Cambodia, Laos, Myanmar and Vietnam).
Kanit Sangsubhan, secretary-general of the EEC office, said earlier the EEC Policy Committee had approved the contract and design of the project, due to be presented to the cabinet on May 28.
The EEC is the government's flagship investment scheme, spanning the eastern provinces of Chon Buri, Rayong and Chachoengsao. It is due for completion by 2021 to turn those provinces into technological, manufacturing and service hubs connected to Asean neighbours by land, sea and air.
