SRT to push ahead with Makasan mega-project

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The Governor of the State Railway of Thailand (SRT), Prapat Chongsanguan, has said that the SRT’s mega-investment project Makasan Complex is set to go ahead.

Prapat said the SRT management is discussing the Terms of Reference (TOR) for the auction to find the developer of the project.  The terms of reference are expected to be published in the next 1-2 months.

The Governor said the Chairman of the SRT board, who is also the current Dean of Chulalongkorn University’s engineering department, has extensive experience in property management, having managed Chulalongkorn University’s properties and overseen the university’s contract with the MBK shopping center.

The Makasan Complex project plans to turn the area around Makasan train station into an important income source for the SRT, by transforming it into a commercial area.  The project will require an investment of approximately 200 billion baht, according to the SRT Governor.

The Governor also said that preliminary considerations suggested that the SRT should rent its land to suitable developers for the duration of 30 years, with an option to renew it for another 30 years if the SRT deems it suitable.