Thailand’s Transport Ministry to embark on 40 mega projects worth Bt1.4 trillion in 2022
Transport Ministry has revealed its plan of handling mega projects in fiscal year 2022 in a seminar “Thailand Opportunity for Sustainable Economic Growth” organized virtually on Thursday (October 28).
Transport Ministry to embark on 40 mega projects worth Bt1.4 trillion in 2022
“The Ministry is planning to start and continue 40 projects in 2022 with combined investment value of Bt1.4 trillion,” said Transport Minister Saksayam Chidchob. “Of these, Bt516 billion worth of investment will be in projects that we already signed the contracts, while Bt974 billion will be an investment in new projects.”
Saksayam further added that among the 13 projects that already signed the contract, one will involve building road infrastructure (worth Bt32.22 billion), one is about land transport (Bt2.86 billion), seven will be of rail transport (Bt476.15 billion), and four will involve air travel (Bt5.71 billion).
Of the 27 new projects to be started in 2022, twelve will involve building road infrastructure (Bt281.2 billion), one is about land transport (Bt1.36 billion), five will be of rail transport (Bt624.87 billion), five will involve sea transport (Bt7.56 billion), and four will involve air travel (Bt59.48 billion).
“The National Economic and Social Development Council (NESDC) has predicted Thailand’s economic growth of this year at 0.7 to 1.2 per cent, following the trend of global economy that is gradually recovering from the impact of Covid-19 outbreak,” said Saksayam. “Meanwhile, the International Monetary Fund (IMF) estimated that the global economy will expand 6 per cent this year and 4.4 per cent in 2022.”
“To continue stimulating the economy, Thailand must increase government spending in new projects, which will subsequentially drive forward other economic aspects such as tourism, export, domestic consumption and private investments,” he added.