In 2019, it was reported by the state’s Board of Investment that 59% of all applications received were for projects in the EEC.
As one of the most prioritized EEC projects, U-Tapao Airport was being developed into the country’s third full capacity international airport. There will also be high-speed rail ribbon linking it to Bangkok’s other two airports and aircraft maintenance facilities among additional improvements. This project was led and financed (431.25 Million USD) by the Asian Infrastructure Investment Bank (AIIB).
Additionally, EEC attracted $80 billion on another of its projects to transform U-Tapao Airport into the Eastern Aerotropolis of ASEAN. Through a collaboration with Zhengzhou Airport Economy Zone (ZAEZ), the Eastern Aerotropolis will be modeled off China’s own Aerotropolis. This means both the airport and the surrounding area will be developed to provide seamless connectivity with other transportation systems to better trade with China, Europe, and other countries in South East Asia.
The total development cost of U-Tapao Airport, its expansion, and transformation totaled to around 5.7 billion USD. The full expansion of the U-Tapao Airport will enable the facility to handle 60 million travelers per year.
Source: asmag editorial team, EEC