Bangkok Land holds a signing ceremony with Northern Bangkok Monorail for "MRT Pink Line Extension to Muang Thong Thani"

Wednesday 03 August 2022 09:11
Bangkok Land holds a signing ceremony with Northern Bangkok Monorail for "MRT Pink Line Extension to Muang Thong Thani" project with an investment of 4 billion baht.
Bangkok Land holds a signing ceremony with Northern Bangkok Monorail for MRT Pink Line Extension to Muang Thong Thani

Bangkok Land Public Company Limited holds a signing ceremony with Northern Bangkok Monorail Co., Ltd. (NBM), a subsidiary of BSR JV Consortium, and a joint venture between the BTS Group Holdings Public Company Limited (BTSG), Sino-Thai Engineering and Construction Public Company Limited (STEC), and Ratch Group Public Company Limited for the "MRT Pink Line Extension to Muang Thong Thani" project with an investment of 4 billion baht for adding two more stations: IMPACT Muang Thong Thani Station (Challenger 1) and Muang Thong Thani Lake Station. The construction is expected to be completed and operational in 2025.

Mr. Peter Kanjanapas, Chairman of Bangkok Land Public Company Limited, said, "I am very pleased and proud of the cooperation on the MRT Pink Line Extension to Muang Thong Thani project between Bangkok Land Public Company Limited and Northern Bangkok Monorail Co., Ltd. (NBM), a specialist in rail transportation. With this project, the Company will be able to contribute to the general public by helping more than 300,000 residents and workers in Muang Thong Thani, including over 10 million visitors and participants attending the exhibitions and conferences each year. It not only provides a convenient transport mode for them but also helps alleviate traffic congestion. In terms of business opportunities, the "MRT Pink Line Extension to Muang Thong Thani" project will also support various businesses in Muang Thong Thani, such as IMPACT Exhibition and Convention Center, hotels, Cosmo Bazaar, Cosmo Walk, Outlet Square, Beehive Lifestyle Mall and Cosmo Office Park to achieve an additional business growth of 10-20%.

In addition, it will increase the potential and the value of the existing 600 rai of land in Muang Thong Thani, which will significantly increase the value. We have planned to develop the area into a Mixed-Use project to meet the new generation's lifestyle better.

Both stations will be an extension into Muang Thong Thani and Muang Thong Thani Lake for a total distance of approximately 3 kilometers. The Company also invested 1 billion baht in constructing a skywalk connecting the project to IMPACT Exhibition and Convention Centers, hotels, retail stores, and department stores to accommodate the growing number of visitors and provide them maximum convenience. It will also serve as a prime location for upcoming projects such as Mori Condominium, a 1,040-unit residential building, and Lenotre Culinary Arts School."

Mr. Kavin Kanjanapas, Executive Director of Northern Bangkok Monorail Company Limited (NBM), said, "The project signing between NBM and BLAND consists of two agreements:1. The Construction Support Agreement for the "MRT Pink Line Extension to Muang Thong Thani" project2. The Skywalk Connection Agreement for the skywalk project connecting the MRT Pink Line Extension to Muang Thong Thani buildingsUnder the agreements, Bangkok Land Public Company Limited (BLAND) has approved about 1,293.75 million baht (inclusive of VAT) in contributions and loyalty funds to NBM for the construction and development of the extension to the Muang Thong Thani project and for the rights to BLAND and BLAND affiliates in the construction of the skywalk connecting MRT Pink Line stations to buildings or other construction located in Muang Thong Thani, which are the properties of BLAND Groups.

This is effective from the day of signing the agreement to the termination date of the rights for operating the MRT Pink Line Extension to Muang Thong Thani project in compliance with the MRT Pink Line joint venture agreement between NBM and the Metropolitan Rapid Transit Authority (MRTA). In addition, BLAND has approved an annual 10.35 million baht contribution (inclusive of VAT) for the maintenance fund, starting from the operation date of the MRT Pink Line Extension to Muang Thong Thani.The MRT Pink Line Extension to Muang Thong Thani project is among the significant projects of BTSG's MOVE business, which aims to provide safe and convenient daily door-to-door transportation to passengers across multiple modes of travel. The project is part of the main MRT Pink Line (Khae Rai to Minburi), linking four mass transit lines, namely the Purple Line (Bang Yai to Bang Sue), the SRT Dark Red Line (Bang Sue to Rangsit), the Green Line (Mo Chit to Saphan Mai to Khu Khot), and the Orange Line (Thailand Cultural Center to Minburi).

The estimated construction period of the MRT Pink Line Extension to Muang Thong Thani project is 37 months. It is scheduled to be fully open in 2025 with an expected number of 13,785 passengers/ride/day. Upon completion, the project will help ease traffic entering the Muang Thong Thani area, a large community with many daily commuters. For the entire monorail Pink Line, consisting of 30 stations (exclusive of the extension to Muang Thong Thani and Muang Thong Thani Lake), the construction progress is 89.43% complete (civil construction: 91.01% and electrical system 87.90%). It is scheduled to partly open for service by early 2023.

Source: BTS GROUP HOLDINGS

Bangkok Land holds a signing ceremony with Northern Bangkok Monorail for MRT Pink Line Extension to Muang Thong Thani