World Economy

Thailand Urges More China Investment

Thailand Urges More China InvestmentThailand Urges More China Investment

China should supply the bulk of the investment needed for a planned railway from the Thai-Laos border to the Gulf of Thailand as the project will benefit Beijing, Thailand’s transport minister said. The proposed line, part of China’s efforts to expand infrastructure in Southeast Asia, would cover 845 kilometers from the Thai-Laos border to Thailand’s industrial seaboard along the Gulf of Thailand. Thai Transport Minister Arkhom Termpittayapaisith told Reuters that China and Thailand were still negotiating a 60:40 shareholding plan, and that the railway would be a high-speed one, rather than mid-speed as originally discussed. “As this project benefits them (the Chinese), they will have to invest more because this is a strategic route that will benefit China,” Arkhom said. China has put the project cost at 560 billion baht ($15.71 billion), according to Arkhom, but Thailand thinks this is too high.