Bangkok: Ekniti has concluded the feasibility study for the "Land Bridge" project before the 90-day deadline, proposing its termination to save government funds and establish a precedent for data-driven decision-making. The study clearly indicated the project is unprofitable, with a negative Net Present Value (NPV) exceeding 10 billion baht. Furthermore, nine out of ten of the world's largest shipping lines already have alternative partners. A study is being conducted to upgrade the Ranong port and connect it with a railway instead, to avoid creating a large future debt burden for the country.

According to Thai News Agency, Deputy Prime Minister and Minister of Finance, Mr. Ekniti Nitithanpraphas, in his capacity as chairman of the committee studying the feasibility of implementing the transportation infrastructure development project to connect the Gulf of Thailand and the Andaman Sea (the Land Bridge project), has conducted a comprehensive study of the new project as ordered by Prime Minister and Minister of Interior, Mr. Anutin Charnvirakul. The committee was established with a 90-day timeframe to complete its work. Over the past several months, Thai society has been debating whether the "Land Bridge project," a major mega-project in the southern region, should proceed. There are both supporters and opponents of the project. Supporters cite the economic opportunities for the country, while opponents question its cost-effectiveness, environmental impact, and potential benefits.

Mr. Ekniti, as chairman, regularly held meetings to monitor the progress of the various subcommittees. Importantly, he invited experts with knowledge in various fields related to the project to work together, including representatives from government agencies, academia, and the public. They thoroughly analyzed factual data to determine the suitability of the project. Ultimately, the committee reached a conclusion and was able to submit its findings to the Prime Minister before the 90-day deadline.

In a press conference on July 24th, the committee, led by Mr. Ekniti, set a new standard in national governance by making decisions based on comprehensive academic data. They announced the termination of the land bridge project as originally planned to protect the country from fiscal risks and various potential future burdens. A key aspect to commend is the committee's use of up-to-date data in calculating the project's cost-effectiveness. They found that economic assumptions had changed due to a slowdown in global economic growth following the Middle East conflict, resulting in lower maritime transport volumes. This caused the project's financial return to change from an initial Net Present Value (NPV) of 637,713 million baht to a negative 10,287 million baht. This demonstrates the project's high sensitivity to economic changes and fluctuating cargo volumes, highlighting its low business feasibility. Continuing with the project would not only be unprofitable but could also create a significant national budge t burden and debt risk in the future.

Furthermore, information obtained by the committee from inquiries with major global shipping lines revealed that 9 out of 10 have already invested in other projects or partnered with companies in other countries that have already invested in similar projects to the land bridge. This leaves only one player with a small market share, meaning that even if Thailand completes the land bridge, most cargo ships will not use the service anyway, creating a very high risk of losses for Thailand from this project.

Another decision by the committee prioritized the Ranong Biosphere Reserve and other world-class wetlands. The committee recognized the invaluable value of the country's largest mangrove forest and world-class tourist attractions. Proceeding with the project against its objectives could cost Thailand the opportunity to be registered as a World Heritage Site. This reflects a vision that goes beyond monetary gain, focusing on preserving natural resources for future generations of Thais.

This withdrawal from the land bridge project is not an abandonment of the South, but rather a redirection of investment towards more focused areas. The committee has proposed a more efficient and cost-effective solution to the government, which includes instructing a study on developing the existing Ranong port to its full potential and accelerating the connection of the railway network (Missing Link) to link goods from China and ports on the eastern coast. This approach addresses the real needs of the private sector without bearing the risk of trillions of baht.

The work of the committee, led by Mr. Ekniti, in this instance highlights an important lesson: planning large-scale investment projects, especially national infrastructure projects, requires thorough consideration of all relevant data before making investment decisions. The decision to shelve a mega-project based on sound scientific evidence and comprehensive public feedback can save national budget and build confidence that this government is managing its affairs by listening to accurate opinions and information for the best interests of the country and all Thai people.