Thailand's leading real estate agent

Thailand Industry – New Navy Deal to Develop U-Tapao Airport

By on May 12, 2015 in Property News

Thailand Industry 2015-05-12_101915Thailand industry will receive a boost when the Transport Ministry signs a cooperation agreement with the Royal Thai Navy later this month to work together to develop the navy’s U-Tapao airport in Rayong for commercial use. PrajinJuntong, the Transport Minister, said there will be two panels set up to oversee the development process. One of the panels will be in charge of developing the infrastructure and the other will be responsible for business planning for commercial use of the airport. This will only happen once the memorandum of cooperation is signed by both parties.  The development will be divided into 3 phases:

1. Increase the capacity of a new terminal from 800,000 to 3 million passengers per year. During this time, in parallel, the Department of Highways will speed up construction and expansion of routes to the airport. The plan is for phase 1 to complete over 2015 to 2017.

2. Development of infrastructure to accommodate up to 5 million passengers per year.

3. This phase wouldn’t start at the earliest until 2020 and is the development of a 2nd runway and a major study into the development of further facilities to enable growth.

The budgets required are yet to be worked out. Funding will come from the Transport Ministry and the Navy with the natural split being that transport work outside of the airport will be funded by the Transport Ministry and work inside the airport by the Navy.

For the full article click here.

No comment





 

emailSubscribe Via Email

Privacy guaranteed. We will not share your information.

Follow Me on Twitter

Follow Me on Facebook

Subscribe via RSS Feed

Copyright © 2020 CBRE (Thailand) Co., Ltd. All Rights Reserved.