Sunday, July 21, 2024
HomeEntertainmentDP World eyes investment in Thailand’s 1 trillion baht Land Bridge project

DP World eyes investment in Thailand’s 1 trillion baht Land Bridge project

Picture courtesy of Government House

Dubai-based logistics giant DP World has expressed interest in investing in Thailand’s ambitious 1-trillion-baht Land Bridge project, as confirmed by the Ministry of Transport.

Sultan Ahmed Bin Sulayem, group chairman and CEO of DP World, will meet with Prime Minister Srettha Thavisin tomorrow to discuss potential collaboration on the project. DP World is renowned as the world’s third-largest container port operator.

Transport Minister Suriya Jungrungreangkit revealed that the meeting will focus on a possible joint investment in the Land Bridge project, which aims to establish a logistics network connecting Chumphon on the Gulf of Thailand to Ranong on the Andaman coast.

“It is a delight that a global company like DP World has shown interest in the project,” Suriya stated yesterday.

DP World, established in 2005, operates a vast global network encompassing logistics, cargo transport, port operations, maritime freight, and free trade zones. The company handles 70 million container units annually, facilitated by around 70,000 ships, representing 10% of global container traffic. It operates across 82 ports in 40 countries.

The forthcoming discussion with the prime minister highlights the significant investment appeal of the Land Bridge project, Suriya noted, expressing confidence that the project will come to fruition during the current government’s tenure.

Should the project succeed, it is projected to generate up to 1 trillion baht (US$ 27 billion) for the Thai economy.

The Ministry of Transport has also completed investor roadshows both domestically and internationally to attract further interest, reported Bangkok Post.

In addition, the government is advocating for a bill on the southern economic corridor, sponsored by the Office of Transport and Traffic Policy and Planning. The office has submitted the draft to the ministry, and it is anticipated to reach the Cabinet by September.

READ ALSO  Bangkok police arrest rapist posing as taxi rider

In related news, Thailand’s anticipated land bridge project, aiming to connect the Pacific and Indian Oceans, is set to become reality, with bidding anticipated by late next year, the Transport Ministry confirmed.

Business News



- Advertisment -


- Advertisment -
- Advertisment -