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Sunday, November 10, 2024

Concession Extension for Si Rat Expressway Expected by Year-End

Transport Minister Suriya Jungrungreangkit has announced that a proposal to extend the concession for the Si Rat Expressway is expected to receive cabinet approval by the end of the year. The current operator, Bangkok Expressway and Metro (BEM), is set to gain another 22 years to manage the route, under the condition that it invests in constructing a new double-deck expressway. The estimated cost for the new project is 34 billion baht.

The concession extension is expected to be finalized with an agreement signed by December. The current concession, covering the Second Stage Expressway from Ngam Wong Wan to Rama IX, is due to expire in October 2535 in the Buddhist calendar (2092 in the Gregorian calendar).

As part of the agreement, BEM will reduce toll fees by up to 40 baht per trip. The current toll, which stands at 90 baht for a full journey across the expressway, will drop to a maximum of 50 baht per trip. This reduction is expected to benefit around one million vehicles that use the 17-kilometer route daily, significantly lowering travel costs and reducing traffic congestion.

The proposed toll cuts are seen as a measure to ease the financial burden on commuters, while the new road construction aims to further alleviate congestion by increasing capacity. According to Minister Suriya, the Si Rat Expressway has already helped reduce commuting times by up to 30 minutes per trip.

Suriya emphasized that the proposal is transparent and in accordance with legal standards, though further details regarding what additional benefits BEM might receive in exchange for its investment have not been disclosed.

Officials involved in the negotiation process expect the agreement to be a fair and balanced solution that benefits both the operator and the public.

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