Thailand's government will invest $2.78 billion in Laem Chabang port, the core of Thailand's Eastern Economic Corridor. The Thai government hopes to position the deep-water port to compete with Singapore and Hong Kong, reports Nikkei.
Multiple companies have expressed interest in bidding for the $1.7 billion worth of contracts to expand the Map Thaput port into a major deep sea port -- part of a larger infrastructure drive to create a huge economic and business center in the east of the country.
China Railway Construction will join a consortium led by Charoen Pokphand Group (CP Group) to bid for the construction of Thailand's $7 billion high-speed railway project that will link three major airports.
The Thai government has approved four infrastructure megaprojects, worth a combined $14 billion, in an effort to rev up new investment in the country's Eastern Economic Corridor.
Thai oil and gas group PTT is in discussions with potential partners to develop an estimated $7 billion high-speed train project as part of the country's Eastern Economic Corridor.
In anticipation of a big trade increase along the BRI's Eastern Economic Corridor, Hong Kong-based Hutchinson Port Holdings has invested $600 million to open a new high-tech, fully automated terminal at Thailand's largest commercial port this June.