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Concession on ring road

By on Sep 05, 2012 in Property News

Bangkok Expressway Plc yesterday won the Cabinet’s clearance to sign a 30-year concession with the Expressway Authority of Thailand for a 16.7-kilometre outer ring road.

The extension of Kanchanaphisek Road will pass through six Bangkok areas – Bang Sue, Chatuchak, Thawee Wattana, Taling Chan, Bangkok Noi and Bang Phlad.

Construction will require a budget of Bt24.4 billion and operation and maintenance Bt8.4 billion, deputy government spokesman Pakdeeharn Himathongkham said.

The project design is expected to be completed in two years.

BECL will be allowed to raise tolls every five years after the road is open. The toll for passenger cars will be Bt50, liable to an increase of Bt15 after five years, and for vehicles Bt80, liable to an increase of Bt25.

EXAT will receive 30 per cent of cashflow and expects a return on investment of 13.5-15.5 per cent.

The Cabinet also approved the Transport Ministry’s draft bill to punish local and foreign shipowners for oil spills. They could face a fine of up to Bt2 million and see the authorities hold their vessels until the spills are properly treated.

Under the draft bill, oil tankers with a capacity of 2,000 tonnes or more must take out casualty insurance. Local tankers need to seek the Marine Department’s certificate, while those of other countries must obtain certificates from their host agency. Failing to comply with the new rule will subject them to a fine of Bt5,000-Bt20,000 per day.

Source : The Nation 5 September 2012

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Nora has been in the Corporate Communications arena for a number of years. Nora's role is to communicate all newsworthy items that are of a PR nature.

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