THE State Railway of Thailand (SRT) has filed a lawsuit against eight parties including the private concessionaire and other relevant entities seeking 13.335 billion baht including default interest in relation to the Airport Rail Link concession while confirming that this legal action will not disrupt the train service, PPTVHD36 said today (Oct. 23).
In keeping with public-private partnership (PPP) agreement for the high-speed rail project connecting three airports SRT on Wednesday (Oct. 21) filed the lawsuit at the Central Administrative Court against eight parties, including the private concessionaire, the banks providing guarantees for the contract, and the issuers of letters of guarantee.
On Oct. 24, 2019, SRT, as the project owner, signed the PPP with the “Eastern High-Speed Rail Connecting Three Airports Co. Ltd.”, which later changed its name to “Asia Era One Co. Ltd”.
The private sector contracting party is obligated to pay a concession fee for the Airport Rail Link joint investment to SRT in the amount of 10,671,090,000 baht, within two years from the effective date of the contract—a deadline that fell on Oct. 24, 2021.
Following the SRT’s efforts to collect the payment and the subsequent initiation of a dispute resolution process as stipulated in the contract, which failed to yield a mutually agreed-upon resolution, the SRT has found it necessary to bring the matter before the court.
SRT is seeking the payment of the principal debt, amounting to 10,671,090,000 baht, plus default interest accrued up to the date of the filing, totalling 2,664,848,913.70 baht, bringing the aggregate claim to 13,335,938,913.70 baht.
CAPTION:
An Airport Rail Link station. Photo – PPTVHD36
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