Mr. Somkid Jatusripitak, Deputy Prime Minister, presided over the Contract Signing Ceremony for MRT the ‘Pink Line Project: Khae Rai - Min Buri Section and MRT the Yellow Line Project: Lat Phrao - Samrong Section’ at Viphavadi Ballroom, Centara Grand Hotel at Central Plaza Ladprao Bangkok. Guests of honour were Mr. Arkhom Termpittayapaisith, Minister of Transport; General Yodyuth Boonyatikarn, Chairman of the Board of Directors, Mass Rapid Transit Authority of Thailand (MRTA); Mr. Theeraphan Tachasirinugune, Deputy Governor (Strategy and Planning), Acting Governor, Mass Rapid Transit Authority of Thailand; Mr. Keeree Kanjanapas, Chairman, BTS Group Holdings Public Company Limited; Mr. Surapong Laoha-Unya, Chief Executive Officer, Bangkok Mass Transit System Public Company Limited (BTSC); including members of management team of BTS Group Holdings Public Company Limited, Sino - Thai Engineering and Construction Public Company Limited (STEC) and Ratchaburi Electricity Generating Holding Public Company Limited (RATCH).

Mr. Theeraphan Tachasirinugune, Deputy Governor (Strategy and Planning), Acting Governor, Mass Rapid Transit Authority of Thailand said that the Pink Line Project: Khae Rai - Min Buri Section and the Yellow Line Project: Lat Phrao - Samrong Section was a pilot project in accordance with the PPP Fast Track policy of the cabinet, to accelerate investment in transport infrastructure and also to allow the private sector to participate in the investment and drive public investment. The two projects are considered as PPP Net Costs, which means the government is an investor in land ownership and the private sector invests in civil works, the cost of train system and train and project consultant wages including the operation and maintenance management. The joint venture investment would take for 33 years 3 months, divided into two phases; Phase 1: Design and construction of civil works, including installation of the system and trains, taking for 3 years and 3 months; Phase 2: 30-years of service and maintenance. In accordance with the Private Investments in State Undertaking Act, B.A. 2013, the cabinet meeting on May 30th 2017 has been approved the BSR Joint Venture consisting of BTS Group Holdings Public Company Limited; Sino-Thai Engineering and Construction Public Company Limited; and Ratchaburi Electricity Generating Holding Public Company Limited to operate these two line projects.

Mr. Keeree Kanjanapas, Chairman of BTS Group Holdings Public Company Limited, said on behalf of BSR Joint Venture that the BSR has set up two new joint ventures; Northern Bangkok Monorail Company Limited, operating the Pink Line Project: Khae Rai - Min Buri Section; and Eastern Bangkok Monorail Company Limited, operating the Yellow Line Project: Lat Phrao - Samrong Section. According to the PPP Net Cost concession contracts, the joint ventures will get the right for train operation, parking fee, fare revenue collection, and commercial development fees. The two joint ventures will hire Bangkok Mass System Public Company Limited as a provider of train service and maintenance of the Pink Line and Yellow Line Project including both extensions, and hiring Sino-Thai Engineering Construction Public Company Limited for Civil Works and BOMBARDIER to provide mechanical and electrical system.

Once the project completion, and also facilitate the travel of people from the outer areas of Bangkok and its suburbs, including Nonthaburi to the heart of Bangkok with convenience, fast as well as help solve traffic problems in the area of electric train projects can be accessed linked to the main lines i.e. Purple Line, Red Line, Green Line, Orange Line and Blue Line. Furthermore, people would access to the system with the common ticketing system, i.e. Single Journey and SmartPass (Mangmoom card), which will be used for travelling with the three lines ; Green Line, Pink Line and Yellow Line. The ticketing system will be designed as Paid-to-Paid, allowing passengers to connect seamless without existing and re-entering system. This will provide more fast and convenient travelling.

The Pink Line Project: Khae Rai - Min Buri section with the total distance of 34.5 kilometers, consisted of 30 stations under the total investment cost of THB 46,643 million; meanwhile The Yellow Line Project: Ladprao – Samrong section with the total distance of 30.4 kilometers, consisted of 23 stations under the total investment of THB 45,797 million. The two projects are Straddle Monorail system providing emergency walkway, which are secondary feeder lines to diversify the activity of the city and also to connect with main line mass transit systems. The two projects are expected to be available to the public in 2020.