Thai banks roll out $2 bln loan for first elevated monorail

Krung Thai Bank PCL

10/10/2017 11:34

BANGKOK, Oct 10 (Reuters) - Three major Thai banks will lend 
nearly $2 billion to Northern Bangkok Monorail and Eastern 
Bangkok Monorail to build the country's first elevated monorail 
network in the capital. 
    Bangkok Bank  BBL.BK , Krung Thai Bank  KTB.BK  and Siam 
Commercial Bank  SCB.BK  have signed a 63.4 billion baht ($1.90 
billion) loan agreement for the construction of elevated 
mechanical runways, monorails and signal systems for two lines, 
Bangkok Bank said in a statement on Tuesday. 
    The project is a public-private partnership between the 
state-owned Mass Rapid Transit Authority of Thailand, BTS Group  
 BTS.BK , Sino-Thai Engineering and Construction  STEC.BK  and 
Ratchaburi Electricity  RATCH.BK , said Northern Bangkok 
Monorail and Eastern Bangkok Monorail CEO Keeree Kanjanapas, who 
is also the chairman of BTS Group. 
    Sino-Thai will be the civil engineering contractor, while 
Canadian train manufacturer Bombardier  BBDb.TO  will be 
responsible for systems and monorail trains, he said, adding 
that the project is expected to complete in 2020.  
    Bangkok Bank, the lead financier, would contribute a third 
of the total loan amount, or 21.1 billion baht, its President 
Chatsiri Soponpanich, said in the statement.  
    ($1 = 33.3200 baht) 
 
 (Reporting by Chayut Setboonsarng; Editing by Vyas Mohan) 
 ((Chayut.Setboonsarng@thomsonreuters.com; +6626506126; Reuters 
Messaging: chayut.setboonsarng.thomsonreuters.com@reuters.net)) 
 
Keywords: THAILAND BANKS/LOAN