Thai Cabinet approves 9 billion USD upgrade for U-Tapao airport
The Thai cabinet on June 2 approved a bid by the BBS consortium for an airport development project worth 290 billion THB (over 9 billion USD).
BANGKOK, VNA - The Thai cabinet on June 2 approved a bid by the BBS consortium for an airport development project worth 290 billion THB (over 9 billion USD).
The project will add a third passenger terminal at U-Tapao International Airport and develop other facilities like air cargo and aviation maintenance centres.
The Eastern Airport City Project at U-Tapao airport is one of the five megaprojects under the government's infrastructure development in the Eastern Economic Corridor (EEC).
The Thai navy is scheduled to sign a 50-year contract with the BBS consortium, comprising of Sino-Thai Engineering and Construction, Bangkok Airways and BTS Group Holdings, on June 16.
The project will generate 305 billion THB for the government from the land lease and revenue-sharing agreement. It is further expected to bring in 62 billion THB in taxes and create 15,600 jobs in the first five years.
It is expected to be complete by 2023, according to EEC Office’s Secretary General Kanit Sangsubhan. - VNA