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Sunday, February 9, 2025

BMA to Pay 11.75 Billion Baht Debt to Skytrain Operator

The Bangkok Metropolitan Administration (BMA) has committed to paying 11.75 billion baht to the Skytrain operator, Bangkok Mass Transit System Plc (BTSC), as per the Supreme Administrative Court’s order on July 26, 2024. This sum includes the debt and interest owed for operating the Green Line.

Bangkok Deputy Governor Wisanu Subsompon stated that the BMA must pay the amount promptly to avoid additional interest charges, estimated at around 2 million baht per day. The BMA plans to seek permission from the Bangkok Metropolitan Council to expedite the repayment within 140 days, even though the court has allowed up to 180 days.

The Supreme Administrative Court upheld a previous ruling by a lower administrative court, mandating the BMA and its business arm, Krungthep Thanakom, to settle the overdue debts. These debts arose from hiring BTSC to operate and maintain two Green Line extensions: Saphan Taksin to Bang Wa and On Nut to Bearing, and Mo Chit-Saphan Mai-Khu Khot and Bearing-Samut Prakan sections. The costs were incurred from May 2019 to July 2021 and have remained unpaid.

BTSC CEO Surapong Laoha-Unya mentioned that the company plans to use the received funds to pay investors redeeming company bonds due this year. Additionally, BTSC is pursuing another case to recover 10 billion baht for operating and maintaining the same extensions between August 2021 and October 2022, which is still pending in the Central Administrative Court.

While BTSC anticipates the BMA to comply with the court ruling, the company remains open to discussions if the BMA and Krungthep Thanakom lack sufficient funds and require assistance from the central government.

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