Boston, MA -- (ReleaseWire) -- 05/05/2014 -- We believe political upheaval in Thailand has not only further deteriorated the short-term outlook for the country's construction sector, but has also started to negatively impact the sector's longterm outlook. The ongoing political crisis in Thailand remains unresolved and looks set to intensify before a resolution can be reached. This has already resulted in fresh delays to the government's THB2trn (US $62bn) infrastructure plan and could further limit the growth potential in the entire construction sector. As such, real growth for Thailand's construction sector has been revised down to 1.9% in 2014 (previously 3.5%), while the average real growth between 2014 and 2023 has been revised down to 2.4% per annum (previously 2.8%).
Key Trends And Developments
- In December 2013, the Office of the National Economic Social Development Board approved the Mass Rapid Transit Authority of Thailand's plan to build a new urban railway line in Bangkok, the Orange Line. The route will run from Thailand Cultural Centre station towards Suvinthavong and Bang Khun Non. The 35.4km train route will cost around THB190bn. The first phase is valued at around THB85bn and is slated for completion in December 2018. The second phase, valued THB100bn, is expected to be completed in 2019.
- In January 2014, the Port Authority of Thailand (PAT) announced (cited from the Bangkok Post) that it is starting a feasibility study to develop a port in Ranong. The port is part of the PAT's plan to promote shipments from the rest of South East Asia to Yangon via the Ranong port. The study will also involve matching the businesses between operators in Yangon and Ranong.
- In March 2014, the Expressway Authority of Thailand outlined its plans to conduct a study to extend the toll road that currently links Bangkok with the Ayutthaya province. The extension is expected to involve the construction of 35km worth of roads and link the northern expressway with Highway No. 32 at Bang Pahan district. The extension project is expected to be completed in four years. Besides the extension, the authority plans to create a direct connection to Bangsai Arts and Crafts Centre as well as improve the current expressway over a 16km-section between Bang Poon and Bang Sai.
- In March 2014, the Metropolitan Electricity Authority (MEA) was assigned by the government to lay a THB8.89bn underground transmission line along Ratchadaphisek Road from the Asoke to the Rama IX intersection, next to the subway line. In addition, the MEA completed a feasibility study for a THB140bn project. The project involves expanding the underground power transmission network in inner Bangkok and business districts by 129.4km.
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