MCOT unveils ambitions for Bangkok, Chumphon properties
MCOT said on Tuesday it would proceed with a public-private partnership (PPP) venture on its properties in the next quarter.
MCOT plans PPP projects representing long-term investments in Bangkok, on 70 rai near the Thailand Cultural Centre and 60 rai in Bang Pai district.
MCOT Plc president Kematat Paladesh said the interest of potential foreign and domestic investors in the two properties would be gauged.
The 70-rai site includes 50 rai near the Cultural Centre worth Bt5 billion and the adjacent 20 rai occupied by MCOT headquarters, worth more than Bt2 billion.
At 50,000 square metres, the former could accommodate a 40-storey exhibition and convention centre.
MCOT will assess the market and then conduct a feasibility study, with the findings presented to the board of directors and the Finance Ministry.
It is expected that construction would begin in 2021.
MCOT also plans a residential project on the 60 rai in Bang Pai worth Bt400 million-500 million. The site has ready access from Phutthamonthon, Petchkasem and Baromrajchonnee roads.
Another 40-rai property in Nong Khaem district currently hosts transmission equipment and production studios owned by Bangkok Entertainment Co Ltd that will be transferred to MCOT when their joint venture agreement expires in 2020.
MCOT also has 20 rai on Petchkasem Road in Chumphon with convenient access to Nakon Si Thammarat and Krabi.