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Thailand Industry – Soithip Shelves SRT Debt Write-Off Plan

By on Jul 30, 2014 in Industrial, Investment-Land

Permanent secretary for transport Soithip Traisutthi has put the brakes on the State Railway of Thailand (SRT)’s plan to allow the Finance Ministry to use its two large land plots for commercial purposes to write off 100 billion-baht debts.

According to the proposal, the SRT would allow the Finance Ministry’s Treasury Department to develop the plots for commercial purposes under a 99-year contract to pay off the SRT’s huge debts.  The Transport Ministry is aware of the need to settle the SRT’s debts and carry out lucrative projects, but the proposal needs close examination, Ms Soithip stressed.  Ms Soithip yesterday also forwarded the national transport infrastructure strategic plan between 2015 and 2022 to the National Council for Peace and Order for consideration, but the NCPO decided to postpone a decision until next Tuesday.

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