Thailand’s State Railway of Thailand (SRT) has filed a 13.3 billion baht claim against Asia Era One Co. over a contract payment for a stalled three-airport high-speed rail project, the Bangkok Post reported. The newspaper said the case was filed Wednesday in the Central Administrative Court, citing the railway’s public relations department.
The 224 billion baht agreement, signed Oct. 24, 2019, required Asia Era One to pay 10.67 billion baht for its co-investment right by Oct. 24, 2021, according to the Bangkok Post. The SRT’s claim adds 2.66 billion baht in interest from that deadline. The lawsuit also seeks 1 billion baht apiece from Bangkok Bank and Siam Commercial Bank under guarantees for project implementation, the report said.
The proposed 220-kilometer high-speed line would link three airports: Don Mueang, Suvarnabhumi and U-tapao, the last in Rayong. The concession also includes construction and operation of Bangkok’s existing Airport Rail Link. The Bangkok Post described the project as a key part of Thailand’s Eastern Economic Corridor, with the government expecting development along the route.
The newspaper reported that delays have involved Covid-19, land matters, financing difficulties and contract disputes. Asia Era One has sought to withdraw from the agreement, saying its lenders have lost confidence in the project’s viability. The SRT maintains that the consortium’s contractual duties remain in force, the Bangkok Post reported.
When the agreement was signed, the government expected the line to be operating by 2023. The Bangkok Post reported that the project’s start is projected for 2031-32 if it ever breaks ground.
