Prime Minister Anutin Charnvirakul reiterated yesterday that the construction and operation of the high-speed rail project linking three major airports must strictly adhere to the original contract, urging the State Railway of Thailand (SRT) and the private concessionaire to negotiate a resolution or resort to legal proceedings.
Speaking after chairing a meeting of the Eastern Economic Corridor (EEC) Policy Committee yesterday, Anutin emphasised that both parties remain legally bound by the existing agreement.
He noted that, while the meeting approved four additional economic zones, the high-speed rail project, connecting Don Mueang, Suvarnabhumi, and U-Tapao airports, was not included on the formal agenda.
"Both contractual parties still have a duty to comply with their binding agreement," Anutin said, adding that any unresolved disputes must ultimately be settled through the judicial process.
EEC Office Secretary-General Chula Sukmanop stated that the Prime Minister instructed officials to prepare the high-speed rail issue for consideration at the next committee meeting, expected in November.
Chula acknowledged, however, that reaching a final resolution remains a challenge.
He admitted that moving the project forward in practice has become increasingly difficult, due to shifting economic conditions. Latest financial feasibility studies indicate that the project is no longer cost-effective, leading commercial banks to withhold credit approvals.
Chula noted that, even though the Office of the Attorney General had reviewed the draft agreement and confirmed that contract amendments are legally permissible, contract modifications alone cannot rescue the deliverables of the private sector partner if it remains unable to secure bank financing.
