Thailand’s government is delaying China’s ambitious high-speed railway project in the country as questions over financing and liabilities of the $9.9 billion infrastructure initiative remain unresolved.
Sources within Thailand’s transport sector confirmed to the Nikkei Asian Review that behind-the-scenes negotiations between Bangkok and Beijing over the showpiece venture under China’s Belt and Road Initiative are still ongoing.
The Thai government has still not decided how to finance it, said an official connected to the State Railway of Thailand. The government-owned operator is one of the lead agencies involved in the landmark BRI project. “There are still questions about accepting the Chinese loan offer or raising funds domestically through debt in Thai baht,” he said.