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Bangkok Airport Company Will Call on Local Banks if Japanese Pull Out.
Byline: Cholada Ingsrisawang
Aug. 7--A contingency plan for financing the long-delayed Suvarnabhumi airport would rely on local banks, including state-owned Krung Thai, for the nearly 80 billion baht required if talks with the Japan Bank for International Co-operation collapse.
Supachai Pisitvanich, chairman of Krung Thai Bank, said the bank was ready to lend to the project if JBIC decided to withdraw.
In preliminary discussions, Krung Thai expressed a willingness to supply around 40 billion baht in funds, or half of the total required for the new Bangkok international airport.
Other banks were likely to participate, given the strong government support and relative lack of other major lending opportunities in the market.
Last week the cabinet approved a timetable aimed at getting the new airport completed by 2004.
JBIC, the creditor for the project, was expected to answer by early September whether a proposed change in the terminal design was approved.
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