Thailand has approved a memorandum of understanding for the co-development of a THB150 billion ($4.95 billion) high-speed rail project with the Chinese government, Permanent Secretary for Transport Suphoth Sublom said Monday.
The MoU will be forwarded to the Chinese government later, he told reporters.
He recently said the 620-kilometer high-speed railway project linking Nong Kai in the northeast and the capital Bangkok will be run by a joint venture to be set up by the Thai and Chinese governments.
Construction is expected to kick off next year and the rail project is expected to start commercial operations in 2016.
