The project is part of the Highways Department’s 2017 action plan, which includes the eastern and northeastern sections, stretching from Bangkok to Rayong and Aranyaprathet in Sa Kaew, and from Laem Chabang Port to Nakhon Ratchasima via Prachin Buri, Transport Minister Arkhom Termpittayapaisith said yesterday.

After a seminar held by the department seminar on the development of Thailand’s motorway network , Arkhom said the investment model to be applied to the Nakhon Pathom-Cha-am project was being considered, including the details on return on investment.

The country’s Intercity Motorway Development Master Plan 2017-36 was finalised last November and included in the 12th National Economic and Social Development Plan.

Under the plan, the country will invest about Bt2.1 trillion to develop 21 routes with a combined length of 6,612km.

The seminar was aimed at allowing participants in the government and private sectors to suggest ways to make the master plan more efficient and to mobilise funds for the projects.

Besides opening the bidding to private participation, the Transport Ministry will raise capital via an infrastructure fund called the “Thailand Future Fund”, by transferring assets of two routes in service to the fund.

They are the Bangkok-Bang Pa-in Motorway or “Motorway No 9” and the Bangkok-Chon Buri Motorway or “Motorway No 7”.

The Cabinet on Tuesday approved the establishment of the Bt100-billion Thailand Future Fund with an initial contribution of Bt10 billion backed by the Finance Ministry.

The proceeds from launching the fund will partially finance two projects approved by the Cabinet earlier that are now under |construction. They are the 9|6km Bang Yai-Kanchanaburi (Motorway No 8) and 196km Bang Pa-in-Nakhon Ratchasima (Motorway No 6) routes.

These two projects are about to be proposed to the Public Private Partnership Committee for holding an auction to operate and maintain them under the PPP fast-track scheme.

“The road network is still in need, as it’s outstandingly convenient with door-to-door delivery, given that there is high demand for road transport. Therefore, motorway development is in the focus of the government,” Arkhom said.

The highways will be able to enhance Asean connectivity with neighbouring countries, he added.

The Rama III-Dao Kanong expressway project under the responsibility of the Expressway Authority of Thailand might also be transferred to the Thailand Future Fund. That expressway will be linked with the motorway project from Dao Kanong to Wang Manao in Ratchaburi.

Construction stocks skyrocketed by 2-5 per cent in response to the approval of the Thailand Future Fund, apparently reflecting investor confidence in the materialisation of the infrastructure projects.