Thailand’s Prime Minister Prayut Chan-o-cha on June 19 presided over a contract signing between the Eastern Economic Corridor (EEC) and BBS Joint Venture to develop U-Tapao International Airport and the Eastern Airport City Project.
Prayut said the 290-billion-baht (over 9 billion USD) project is among Thailand’s major infrastructure development projects aiming to boost socio-economic growth in the country’s eastern region.
This project will upgrade the country to be the regional aviation hub, he said.
EEC Office secretary-general Kanit Sangsubhan said this project would generate 305.55 billion baht for the government, another 62 billion baht in tax and create 15,600 jobs a year in the first five years.
All assets would revert to the state after the expiration of the 50-year contract, he added.
The U-Tapao International Airport City Project & Eastern Airport City Project also incorporates a high-speed train route linking the three major airports – Don Mueang, Suvarnabhumi and U-Tapao.