BANGKOK — Railway officials said Monday one of its major investors has backed off from changing terms in a project to connect three airports with high-speed trains.
State railway deputy chairman Sujit Chou-sirikool said Charoen Pokphand Group, or CP, is no longer insisting on amending the original agreement to suit its interests.
Previously, CP had asked the government to double the length of its concession from 50 to 99 years and provide a loan of less than 4 percent interest.
The conglomerate also demanded the state railway pledge not to compete against future high-speed rail projects.
The now rescinded demands were not included in the initial arrangement when CP won a bid to build a high-speed railway connecting the Suvarnabhumi, Don Mueang and U-Tapao airports.
Sujit said a final draft of the contract will be submitted to the Cabinet for deliberation by the end of this month.
Earlier this month, state railway chairman Voravuth Mala also confirmed that CP had withdrawn its demands.
The airport-interlink project will cost an estimated 224 billion baht. CP will contribute 107 billion baht, while the rest will be paid by the government.