Thailand’s Ambitious Port Plans Set to Make Waves
Seeing cruise ships docking at state-of-the-art terminals on Thailand’s sun-kissed shores. It’s not a tourism brochure fantasy, but a vision that could soon become reality as the Land of Smiles considers investing a whopping 156.15 million baht in three deep-sea ports.
The Marine Department, riding the wave of growing marine tourism, has commissioned a feasibility study that’s making quite a splash. At the helm of this nautical adventure is the Koh Samui project, a 47-rai development with a price tag that would make even the most seasoned seafarer whistle – 12.172 billion baht!
This isn’t just about building fancy docks. It’s a calculated move to anchor Thailand firmly on the global cruise map. The Koh Samui terminal alone is expected to welcome 200,000 to 400,000 tourists annually, with 240 cruise ships dropping anchor each year.
But here’s the real treasure: over its 30-year lifespan, this project is predicted to generate a staggering 46 billion baht in economic value. With an expected economic return rate of over 15%, it’s clear that Thailand is plotting a course for prosperous waters.
The project, set to embark in 2025 and dock for good in 2061, is currently navigating government approval channels. If all goes swimmingly, we could see the Cabinet give the green light by the end of 2024.
Thailand considering investing in three deep sea ports to boost marine tourism
Given the continuous growth opportunities in marine tourism through the increasing number of large cruise ships, the Marine Department has commissioned a consultant to study the feasibility and design of ports to accommodate these vessels.
The project has been allocated a budget of 156.15 million baht for the years 2020-23 under the integrated tourism revenue generation plan.
This project will develop an area of approximately 47 rai (7.52 hectares). The total investment cost is 12.172 billion baht. The project will be based on the public-private partnership net cost model, with the private sector responsible for all construction and operations, while the government will repay the infrastructure investment over a 10-year period.
The project is scheduled to begin in 2025 and continue until 2061, with construction starting in 2029 and the terminal officially opening in 2032. The terminal will have a service life of 30 years, and it is expected to accommodate 200,000 to 400,000 tourists and 240 cruise ship trips per year.
Read More: Thailand considering investing in three deep sea ports to boost marine tourism
The study estimates that the large cruise terminal in Koh Samui will generate economic value of approximately 46 billion baht over 30 years with an economic rate of return expected to exceed 15%.
The Marine Department has submitted the study report to the State Enterprise Policy Office for consideration. It is expected that the project can be submitted to the Cabinet for approval by the end of 2024.
