Thailand’s cabinet has approved a 2.2-trillion-baht (US$68 billion) loan bill proposed by the Transport Ministry for high-speed railway and other transportation mega projects.
“This investment will help lower logistic costs, fuel consumption and travel time,” Finance Minister Kittiratt Na-Ranong told the Bangkok Post.
The transportation network development would reduce logistical costs from 18% to about 10% and strengthen the trade competitiveness of Thai manufacturers, Pongsak Assakul, chairman of the Board of Trade of Thailand, said.
The seven-year project involves 200 high-speed trains on lines linking the capital Bangkok with the north, south and east of the country.
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