EEC will attract local people who own the surrounding land plots of Chachoengsao and Pattaya stations of the high speed rail connecting three airports to participate in developing the area around the transit oriented development (TOD).
Chula Sukmanop, secretary general of the Eastern Economic Corridor Office( EECO) said that the EEC is preparing to host and attract local people who own land in the surrounding area of Chachoengsao and Pattaya stations of the high speed rail connecting three airports ( Don Mueang, Suvarnabhumi and U Ta-pao airports) to participate in developing areas around mass transit stations or the transit oriented development(TOD).
The agency projected TOD development of two stations may attract 64 billion baht private investment. The development plan is a solution to share the benefits with the villagers who own the land which can help them to maintain their land rights or prevent the land rights belonging to landlords.
He said that the guideline development for the area surrounding the mass transit stations of the high-speed rail connecting three airports consisted of nine stations.
The government will develop infrastructure projects that are beneficial to the development of community areas and society in the two stations including the Chachoengsao and Pattaya stations. Two stations will be declared as a special economic zone to promote investment as well.
TOD Chachoengsao station
The development of TOD at the station area will be implemented at Chachoengsao station area with 321 rai. There is an idea of integrated development of 9 projects with approximately 18.98 billion baht investment. They include such as an urgent transition support center project with a short term of 5 years development plan, modern retail business center, community shops (OTOP), premium housing, office building (home office) with long term 10 years, senior housing project and hotel.
TOD Pattaya Station
The TOD Pattaya station area is planned for the land plots of 280 rai. The station’s integrated development included 7 projects with an approximately 46 billion baht investment cost.
The project in the short term ( 1-5 years ) included a transportation facility, long-term mixed use complex(6-10 years ), residential development project, commercial area, national exhibition and convention Centre.
“In fact, the development model of the area surrounding the train stations was a study by the Office of Transport and Traffic Policy and Planning for a long time but without the developer. At that time EECO will take responsibility to attract landowners to join the project and allow the private sector to become developers.
In the past 2 years, EECO organized a public hearing among the community, private sector and related in order to use as a development guideline. More than 80% of them showed an intention to join the project.
The project will be development when the cabinet approves
“Once the cabinet approves to move forward the high-speed rail project connecting three airports. We have to hurry up to launch the projects because land prices will increase more 20-30%. Once the rail connecting the three airports are complet, the land prices are projected to increase by 100%.”
This model development will allow the villagers who currently own the land, which is mostly rice fields, to get full benefit. They can generate income from land development without having to sell the land to the investors.
The operating procedure is currently in the process of approval by the EEC board and later for cabinet approval.
U-Tapao airport will be construct when settlement of rail contract amendment
Wirawat Panthawangkun, chief executive office U-Tapao Company International Aviation Co., Ltd. (UTA), a developer of U-Tapao airport and Eastern Aviation City said that when the government settle on the amendment the contract of high speed rail, UTA will start a of U-Tapao airport
He said U-Tapao airport and aviation city is a twin project of the high-speed rail project connecting three airports. If the high-speed train doesn’t come to the airport. We can’t be an aviation city.
“It is a condition that both projects must proceed together. When the government approves contract amendments, the high-speed rail project of the company high-speed railway line connecting three airports Limited company Charoen Pokphand Holdings Joint Venture Group Ltd and partners can move forward.”
Investment of UTA and partners in the U-Tapao airport and Eastern Aviation City projects will be made immediately with a 320 billion baht investment. There is also government investment in the construction of taxiways totalling 23 billion baht.
“There will be a combined investment in the high-speed rail totaling 234.54 billion baht, so it is very necessary to push the project forward because in the next 10 years it will increase the gross domestic product per year by around 262 billion baht, continuing for 40 years.”
Related News : EEC joined five agencies to find a solution to generate clean energy for investment in EEC.
