Latest news with #SouthernEconomicCorridor
South China Morning Post
24-03-2025
- Business
- South China Morning Post
Thailand's trillion-baht plan to bypass the Malacca Strait moves ahead
Thailand has unveiled draft legislation to create a special economic zone in the south of the country that would pave the way for a multibillion-dollar transport project linking the Indian and Pacific Oceans. Advertisement The bill would establish a commission to speed up development of the Southern Economic Corridor in the provinces of Chumphon, Ranong, Suratthani and Nakhon Si Thammarat, according to a Transport Ministry statement. Prime Minister Paetongtarn Shinawatra 's Pheu Thai party is proposing the so-called Landbridge project at a cost of about 1 trillion baht (US$29 billion), to link two proposed seaports on either side of the country's southern peninsula with a new highway and rail line. Illustration: Lau Ka-kuen The 100km (62-mile) connection would cut shipping times between the Indian and Pacific oceans by bypassing the Malacca Strait – a narrow sea lane between Malaysia and Singapore that is one of the world's busiest ocean routes. The new commission, chaired by the prime minister, will be responsible for the development of logistics, infrastructure, information technology and other facilities in the specified areas, according to the draft bill. It will also be in charge of finding the money to fund the project. The draft bill is being presented for public hearing before proceeding to the cabinet and parliament. Srettha Thavisin, Thailand's then-prime minister, stands in front of an infographic depicting the Landbridge project at a presentation in November 2023. Photo: Facebook/Srettha Thavisin Former Prime Minister Srettha Thavisin , also from the Pheu Thai party, previously pitched the Landbridge project to overseas investors during visits to the US and China.
See - Sada Elbalad
23-03-2025
- Business
- See - Sada Elbalad
Thailand Accelerates Implementation of $29 Billion Indo-Pacific Dry Canal
Taarek Refaat Thailand unveiled a draft law to establish a special economic zone in the south of the country, paving the way for a multi-billion dollar transport project linking the Indian and Pacific Oceans. According to a statement issued by the Ministry of Transport, the draft law stipulates the formation of a committee to accelerate the development of the Southern Economic Corridor in the provinces of Chumphon, Ranong, Surat Thani, and Nakhon Si Thammarat. Pheu Thai, led by Prime Minister Paithongtarn Shinawatra, is proposing a project known as the "Land Bridge," with an estimated cost of 1 trillion Thai baht ($29 billion), to connect two proposed seaports on either side of the country's southern peninsula via a new highway and railway. This 100-kilometer (62-mile) bridge will reduce shipping times between the Indian and Pacific Oceans by bypassing the Strait of Malacca, a narrow sea passage between Malaysia and Singapore and one of the busiest in the world. The draft law stipulates that a new committee, chaired by the Prime Minister, will be responsible for developing logistics, infrastructure, information technology, and other facilities within the designated areas. This committee will also be tasked with securing the necessary funding for the project. The draft law is currently being submitted for public hearings before being referred to the Cabinet and Parliament. Former Prime Minister Sritha Thavisin, also of the Pheu Thai Party, promoted the Land Bridge project to foreign investors during his visits to the United States and China. Thailand aims to complete the project by 2030, and foreign investors will have the opportunity to own more than 50% of the shares in joint ventures with local companies to build the infrastructure. According to the Transport and Traffic Policy and Planning Office, the cost of the deep-water seaports in Ranong on the Andaman Sea and Chumphon on the Gulf of Thailand could reach 630 billion Thai baht. read more CBE: Deposits in Local Currency Hit EGP 5.25 Trillion Morocco Plans to Spend $1 Billion to Mitigate Drought Effect Gov't Approves Final Version of State Ownership Policy Document Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister Qatar Agrees to Supply Germany with LNG for 15 Years Business Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves Business Suez Canal Records $704 Million, Historically Highest Monthly Revenue Business Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday Business Wheat delivery season commences on April 15 News Egypt confirms denial of airspace access to US B-52 bombers News Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia News Australia Fines Telegram $600,000 Over Terrorism, Child Abuse Content Lifestyle Pistachio and Raspberry Cheesecake Domes Recipe Videos & Features Bouchra Dahlab Crowned Miss Arab World 2025 .. Reem Ganzoury Wins Miss Arab Africa Title (VIDEO) News Ireland Replaces Former Israeli Embassy with Palestinian Museum News Israeli PM Diagnosed with Stage 3 Prostate Cancer Lifestyle Maguy Farah Reveals 2025 Expectations for Pisces News Prime Minister Moustafa Madbouly Inaugurates Two Indian Companies Arts & Culture New Archaeological Discovery from 26th Dynasty Uncovered in Karnak Temple
Bloomberg
22-03-2025
- Business
- Bloomberg
Thailand Drafts Law to Speed Up $29 Billion Transport Link
Thailand unveiled draft legislation to create a special economic zone in the south of the country that would pave the way for a multibillion-dollar transport project linking the Indian and Pacific Oceans. The bill would establish a commission to speed up development of the Southern Economic Corridor in the provinces of Chumphon, Ranong, Suratthani and Nakhon Si Thammarat, according to a Transport Ministry statement.
