CP Group Terminates 3-Airport High-Speed Rail Contract

Thansettakij•Economy•15h ago

Reader Briefing

CP Group has exercised its right to terminate the High-Speed Rail Linking 3 Airports project contract effective October 1, 2026.

•CP Group notified the termination of the contract on July 6, 2026, citing the inability to meet BOI investment promotion conditions.
•The company claims the failure to secure BOI certification resulted from factors beyond its control and government policy changes.
•A three-party meeting on June 24, 2026, between SRT, EEC, and the private partner established contract termination as a backup option if contract amendments failed.
•The contract was originally signed on October 24, 2019.

•The contract for the High-Speed Rail Linking 3 Airports was signed on October 24, 2019.
•CP Group cited the failure to obtain BOI investment promotion certificates under condition 6.1 (3) as a primary reason for termination.
•CP Group asserted in a letter that the company used its best efforts in good faith to complete conditions, but faced uncontrollable factors including COVID-19 and the Russia-Ukraine war.
•CP Group claimed that government expansions of Suvarnabhumi and Don Mueang airports reduced the estimated passenger numbers for U-Tapao Airport.
•On June 22, 2026, CP Group sent a letter requesting negotiations for mutual contract termination and proposed alternative infrastructure plans to save state budget.
•On July 6, 2026, CP Group issued a formal notice to exercise the right to terminate the contract under clause 6.2, effective October 1, 2026.
•Sarid Jinsit stated on July 10, 2026, that terminating the contract was not the primary goal and the company still wishes to proceed if obstacles are removed.
•The Eastern Economic Corridor Office previously warned that contract termination could lead to massive damages and court disputes.

Full article content is available on the original source.

Sarid Jinsit

"not the primary goal"

ไม่ใช่เป้าหมายหลัก

CP Group(ซีพี)ℹ️

The private partner and contractor for the High-Speed Rail Linking 3 Airports project.

SRT(รฟท.)

The State Railway of Thailand, a government agency and party to the high-speed rail contract.

EEC(สกพอ.)ℹ️

The Eastern Economic Corridor Office, a government agency involved in the project's oversight.

BOI(สำนักงานคณะกรรมการส่งเสริมการลงทุน)

The Board of Investment, the agency responsible for issuing investment promotion certificates.

EEC Policy Committee(คณะกรรมการนโยบายเขตพัฒนาพิเศษภาคตะวันออก)

The committee that certified the financial impact of global events on the project's bankability.

Office of the Attorney General(สำนักงานอัยการสูงสุด)ℹ️

The government body that reviewed the draft of the amended contract.

Sarid Jinsit(สฤษดิ์ จิณสิทธิ์)

A representative of the private partner who gave a public interview on July 10, 2026.

Suvarnabhumi Airport(สนามบินสุวรรณภูมิ)ℹ️

One of the airports whose expansion affected passenger projections for the rail project.

Don Mueang Airport(สนามบินดอนเมือง)ℹ️

One of the airports whose expansion affected passenger projections for the rail project.

U-Tapao Airport(สนามบินอู่ตะเภา)ℹ️

The destination airport for the high-speed rail project.

Makkasan(มักกะสัน)ℹ️

An area where land delivery was cited as incomplete.