Thailand’s $28 billion sea route plan aims to connect Asia-Pacific to India and the Middle East via new route.

Thailand proposes a $28 bn sea route to link Asia-Pacific to India, Middle East
Share it now

Thai Prime Minister Srettha Thavisin presented a new project to investors in San Francisco that aims to reduce travel time and shipping costs. The Landbridge project will cost about 1 trillion baht ($28 billion) and will provide a 100-kilometer connection between southern Thailand’s seaports, replacing the idea of dredging a canal through the Kra Isthmus. The Malacca Strait, a vital sea route between Asia-Pacific, India, and the Middle East, is projected to become even busier, which will increase shipping costs and cause congestion.

The project is expected to cut travel time by an average of four days and reduce shipping costs by 15%, according to Prime Minister Srettha Thavisin. The project will create two large deep sea ports on either side of southern Thailand’s peninsula, connected by highways and rail networks. The Landbridge is predicted to handle large volumes of cargo and reduce the strain on the Malacca Strait, which currently sees more than 60 maritime accidents a year on average.

Thailand aims to complete the project by 2030 and is seeking foreign investors to contribute a significant portion of the funding. Prime Minister Srettha Thavisin presented the project to investors in China and Saudi Arabia, and will be presenting to prospective US investors at the Asia-Pacific Economic Cooperation summit. The project is expected to create 280,000 jobs and contribute to an increase in Thailand’s annual economic growth rate when fully implemented.

Source .

 

Share it now