BANGKOK, Thailand – Asia Era One Co., Ltd., a subsidiary of Charoen Pokphand Group (CP) and the private partner in Thailand’s high-speed rail project linking three airports, has denied reports that it is withdrawing from the project or cancelling the contract, saying its recent letter to the State Railway of Thailand (SRT) was part of its contractual rights and procedures. The company issued a statement on July 10, 2026, following reports regarding its submission of a letter related to the high-speed rail project connecting Don Mueang, Suvarnabhumi and U-Tapao airports.
Asia Era One said some reports may have caused misunderstandings about the project’s status, the company’s intentions and the process under the public-private partnership agreement.
The company stressed that the letter was submitted as a measure to protect its contractual rights and formally communicate relevant facts regarding project implementation. It does not represent a decision to withdraw from the project or immediately terminate the agreement.
The company said all issues remain subject to the procedures outlined in the contract and relevant laws, and cannot be interpreted as a breach of contract or abandonment of the project.
Following the signing of the investment agreement, both parties encountered several challenges affecting project implementation, including issues related to public waterways in the Makkasan area, which are connected to land development and utilization plans.
Asia Era One said it and the SRT have continued discussions and worked on possible solutions to address these issues and allow the project to move forward under changing circumstances.
The company also noted that economic conditions, financing, investment factors and other project conditions have changed significantly, requiring further discussions with relevant agencies regarding possible contract adjustments.
Regarding investment promotion, Asia Era One said the project received approval in principle from the Board of Investment (BOI) in 2022 and has received continued cooperation from the agency. However, the investment promotion certificate application expired in 2024, and a new application requires clear project details and conditions, some of which remain under discussion as part of the contract adjustment process.
The company said this should not be interpreted as a lack of BOI support or approval for the project.
Sarit Jinasit, managing director of Asia Era One, said the company has continued working with the SRT, the Eastern Economic Corridor (EEC) Office and related agencies to find appropriate solutions within the framework of the contract, legal requirements and national interests. Asia Era One reaffirmed its commitment to the high-speed rail project and said it believes cooperation among all parties will lead to a fair and practical solution benefiting the country, the public and all stakeholders.
