May 30 2024

Thailand’s Laem Chabang Port Phase 3 Progresses with Infrastructure Development

The Port Authority of Thailand (PAT) provided an update on the progress of the Laem Chabang Port Phase 3 project.

Currently, PAT is expediting infrastructure work, land reclamation, and utility systems. The CNNC joint venture is expected to complete land reclamation by June. Afterward, the stability of the reclaimed land will be inspected before handing it over to the GPC joint venture for further construction of the F1 terminal, expected to be completed by 2025, with the entire project finishing by 2026.

For infrastructure, including buildings, berths, roads, and utilities, China Harbour Engineering Co., Ltd. won the bid but has yet to sign the contract due to an appeal. The PAT is preparing to open bids for two additional public investment sections worth over 3 billion baht, including railway construction and procurement, assembly, and installation of cargo handling equipment.

Laem Chabang Port Phase 3 is a public-private partnership under the Eastern Economic Corridor (EEC) development plan, with a total project value of approximately 114 billion baht. The PAT is responsible for 47% and the private sector for 53%. The project has a 35-year concession period and, once completed, will increase container capacity from 11 million TEUs per year to 18 million TEUs per year.

Additionally, the project aims to increase the proportion of rail transport from 7% to 30% and boost vehicle handling capacity from 2 million units per year to 3 million units per year. This will reduce transportation costs from 14% of GDP to 12% of GDP, saving approximately 250 billion baht, and positioning Laem Chabang Port as a gateway for trade and investment.