SRT opens numbers for “CP Group” to manage the Airport Rail Link train after being the concessionaire to operate the high-speed rail project connecting 3 airports, experiencing an average loss of 70 million baht per month because passengers have not yet recovered. although there is no transfer of management rights because it is in the process of revising the joint venture concession from the impact of COVID-19
Mr. Nirut Maneepan, Governor of the State Railway of Thailand (SRT), revealed that SRT has not yet transferred the right to manage the Airport Rail Link project to Asia Erawan Co., Ltd. by Group C. P, the concessionaire of the high-speed train project (High Speed Train) linking three airports (Don Mueang, Suvarnabhumi, U-Tapao) because it is waiting to amend the joint venture contract to complete the project.
After the amendment of the joint venture agreement, Asia Erawan has to pay for the right to manage the Airport Rail Link project approximately 10,671 million baht, but the private sector has been affected by the spread of COVID-19. As a result, the joint venture concession amendment was filed. Including part of the payment for the management of the Airport Rail Link rights from the original must be completed by October 24, 2021, adjusted to installment payments
However, previously, the SRT has entered into a memorandum of understanding (MOU) with Asia Erawan to resolve the impact of the COVID-19 epidemic. The private sector has already paid 1,067.10 million baht or 10% of the airport rail link royalties under the joint venture agreement to SRT, indicating its intention to manage the project according to the conditions specified in the MOU.
“Currently, although the private sector has not been officially assigned the right to manage the Airport Rail Link. and has not yet paid the right management fee to the State Railway of Thailand But the private sector still pays for the administration. And interest on payment of project management rights from the full amount of 10,671 million baht to the State Railway of Thailand every month, in addition to collecting farebox revenue sent to the State Railway of Thailand every month.
As for the conditions in the MOU, it was stated that Asia Era One would be responsible for providing bus service. Along with collecting the income and sending it to the SRT after that, inform the actual expenses incurred for the SRT to consider. In the event that income is lower than expenses The private sector must bear the burden themselves, for example, earning 100 baht but having a cost of 170 baht, Asia Erawan must pay the excess 70 baht, but if the income is higher than the expenses The profit margin must be delivered to the SRT.
As for the overview of the performance of the Airport Rail Link, the current loss is approximately 70 million baht per month, with Asia Erawan responsible for the difference in losses. And if Asia Erawan takes over the Airport Rail Link, the average monthly loss is about 70 million baht or the expenses have already been at least 1,000 million baht.
Currently, Airport Rail Link passengers are about 1.87 million people per month, while before the outbreak of COVID-19 in 2019, passengers were about 2.5 million people per month. Port Rail Link to the private sector has received quite a lot of complaints from the public about the service, such as the air conditioner is not cold, the crowd of passengers and waiting for the train for a long time Which has assigned the relevant person of the SRT to inspect and discuss with the company. In order to speed up improvements to solve various problems
Tags: SRT reveals carried billion baht management costs Airport Rail Link-