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Bangkok administration asked to settle its 40 billion baht debt with BTS

Bangkok administration asked to settle its 40 billion baht debt with BTS

14 Sept 02:09 Key points summarised by AI
  • BTS Group Holdings Plc. is demanding the Bangkok Metropolitan Administration (BMA) settle a 40 billion baht debt for operating the second extension of the Green Line train project over three years.
  • The debt arose from BTS's investment in system installation and operation, with the company continuing services despite not collecting fares due to legal problems and disagreements.
  • BTS Chairman Keeree Kanjanapas highlighted the financial strain from daily interest charges on borrowed funds, while Bangkok Governor Chadchart Sittipunt assured settlement but emphasized adherence to proper legal processes.
  • Governor Sittipunt noted unresolved legal issues, specifically questioning whether the City Council approved the contract for BTS's services and the transfer of the extension's infrastructure to the BMA, potentially requiring a new contract.
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