Troubled Thai State Railway Targets $18 Billion in Land Projects

Unprofitable rail operator to monetize its most-valuable land
New revenue can energize debt-ridden enterprise, minister says

Saksayam Chidchob, center, during a media tour of the Bang Sue Grand Station rail hub in Bangkok, earlier in March.Photographer: Andre Malerba/Bloomberg

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By Randy Thanthong-Knight

September 26, 2021 at 9:00 PM UTC

This article is for subscribers only.

The State Railway of Thailand has set up a company to manage and monetize its most-valuable properties in an effort to reverse decades of losses.

While the idea of generating income from SRT assets has been around for years, the plans are only now taking shape, with prime real estate being transferred to an asset-management unit, Transport Minister Saksayam Chidchob said in an interview.