BTS Group Holdings (BTSG) is optimistic that the Bangkok Metropolitan Administration (BMA) will be able to pay the first 20 billion baht tranche the 50 billion baht owed to the BTS for operational costs and maintenance of the two Green Line train extensions.
Keeree Kanjanapas, chairman of BTSG, said today (Monday) that Bangkok Governor Chadchart Sittipunt has promised that he will propose the debt issue for city council consideration next month.
He said that he is optimistic that the BTS will receive the first 20 billion baht, adding that the company has actually operated the two extensions and there is a contract between the BMA and the BTS to operate the extensions from Mor Chit to Khu Khot in Pathum Thani and from Bearing to Keha in Samut Prakan.
The contract was signed between the BTS and Krungthep Thanakom, the investment arm of the BMA, but the contract was not approved by the city council.
The BTS has not, however, charged commuters for the use of the two extensions since they opened in 2020 due to anunresolved fare issue.
Keeree and Chadchart officially met for the first time to discuss the 50 billion baht debt.
Governor Chadchart said that his administration will propose that the city council consider two related issues. One is therepayment of the first tranche of 20 billion baht and the other is the planned use of the city administration’s reserve fund to repay the debt, both of which require the city council’s approval.
For the remaining 30 billion baht of debt, incurred through the installation of signal and electrical systems for the two extensions, the governor said that the city administration will have to seek approval from the cabinet.
He disclosed that the city administration has made the same proposal to the cabinet before, but it was objected to by then Transport Minister Saksayam Chidchob.
If the cabinet rejects the proposal again, he said his administration may have to wait for the new government to bring the matter to closure.
