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[BUSINESS] · Thailand · 3 sources

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Anutin addresses CP Group request to terminate high-speed rail contract

Deputy Prime Minister and Minister of Interior Anutin Charnvirakul has addressed the situation regarding CP Group's subsidiary, Asia Era One, which has requested to terminate its contract for the high-speed rail project connecting three airports (Don Mueang, Suvarnabhumi, and U-Tapao).

Anutin noted that terminating a government contract is a complex process. He highlighted that it is uncommon for private entities to request termination, as doing so carries significant consequences, including being blacklisted as a contractor who abandons work. Furthermore, under Prime Minister's Office regulations, a party that terminates a contract may be held responsible for any price differences incurred if the project is re-tendered at a higher cost.

The Deputy Prime Minister plans to meet with the Secretary-General of the Eastern Economic Corridor (EEC) next week to discuss the matter and determine the next steps for the project and related regulations.

Entities

Anutin Charnvirakul · Asia Era One · CP Group · Eastern Economic Corridor · State Railway of Thailand