THAI Makes Progress on Selection of Private Investor in TG MRO at U-Tapao

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Thai Airways International Public Company Limited (THAI) has made progress on the selection of private investors that will invest in THAI’s Maintenance, Repair, and Overhaul (MRO) facility at U-Tapao (UTP). An additional working group has been appointed to support the proceedings of the selection committee on private investors.

Mr. Sumeth Damrongchaitham, THAI President, said THAI as the project owner of the Maintenance, Repair, and Overhaul (MRO) facility at U-Tapao (UTP) has sent an updated list of qualified private investors to those concerned and is the process of providing responses to these potential investors within February 2020.  The selection committee has agreed to allow the Eastern Economic Corridor  Office (EECO) to designate a committee to support the operations, which includes evaluation and negotiation of the private investors’ proposals in technical and financial areas.  Another committee will negotiate conditions of the draft investment contract.  These tasks will be conducted with transparency and caution, in accordance with the Terms of Reference (TOR) and the EECO’s announcement.  It was agreed that THAI should be responsible to appoint a committee that will accept and collect documents from TOR bidders, whereby those who express an interest may submit the required documents by 6 March 2020.  Based on the committee’s proposal, information gathered will be checked and evaluated.  Eligible private investors will be selected by May 2020.

The Company has been in close coordination with potential private investors, in order that THAI’s Maintenance, Repair, and Overhaul (MRO) facility at U-Tapao (UTP) may go forward as planned, particularly as the project intersects with other important projects that are vital to the national economy.