Expressway concession extension expected

Transport Minister Suriya Jungrungreangkit says he expects a proposal to extend the concession for the Si Rat expressway by another 22 years will win cabinet approval with an agreement signed by December.
The current concession held by SET-listed Bangkok Expressway and Metro (BEM) for operating the road, also known as the Second Stage expressway, from Ngam Wong Wan to Rama IX, is due to expire in October 2535.
The proposed extension comes with a condition that BEM invest in constructing a double-deck expressway over the existing route, at an estimated cost of 34 billion baht, he said.
As well, on signing the agreement, BEM will agree to lower tolls on the expressway by up to 40 baht per trip, the minister added.
The current toll for travelling from one end to the other on the expressway is 90 baht, meaning the new maximum fee would drop to 50 baht per trip.
Mr Suriya insisted the proposed extension is fair, transparent and in line with the law.
However, no details were available as to whether BEM would receive anything else in return for lowering toll fees and investing 34 billion baht in a new road.
Mr Suriya said that since a million vehicles use the 17-kilometre route each day, the toll reduction will not only help reduce the travelling costs, but also substantially cut down on time wasted due traffic congestion.
The expressway is estimated to have helped shorten commuting times by half an hour per trip for its users, said Mr Suriya.