DB World has shown great interest in the huge land bridge project in Thailand, which costs one trillion baht ($27.2 billion), according to an announcement by the Thai Ministry of Transport.
Sultan Ahmed bin Sulayem, Chairman and CEO of DB World Group, met with Prime Minister Sritha Thavisin to discuss potential investment avenues in this major initiative. As the third largest container port operator in the world, DB World’s participation could inject great economic vitality into the project.
The Minister of Transport, Surya Jungrungriangkit, revealed that the discussions centered on a joint project for the land bridge project, which aims to form a logistical network linking Chumphon Province overlooking the Gulf of Thailand to Ranong in the Andaman Sea.
He said: “It is our pleasure that an international company such as DB World has shown interest in the project.”
DB World, which was founded in 2005, has an extensive global network that includes logistics services, freight transportation, port operations, maritime services, and free trade zones.
The company handles 70 million container units annually, provides services to about 70,000 ships, which represents 10% of global container traffic, and operates through 82 ports in 40 countries.
The minister stressed that the dialogue highlighted the great investment attractiveness of the land bridge project, and expressed his optimism that the project will advance under the current administration.
If the land bridge project is implemented, it could significantly boost the Thai economy, potentially generating up to 1 trillion baht (about $27 billion).
Moreover, the Ministry of Transport recently conducted roadshows for investors locally and globally to generate more interest, according to the Bangkok Post.
Furthermore, the government is pushing forward a draft law on the Southern Economic Corridor, sponsored by the Office of Transport and Traffic Policy and Planning. The ministry has received the draft and expects it to reach the Cabinet by September. (agencies)