A joint venture led by Gulf Energy Development Plc is preparing to develop the third phase of Laem Chabang deep-sea port into a trade and investment gateway in the Eastern Economic Corridor area.
The venture, named GPC International Terminal Ltd, yesterday signed a public-private partnership (PPP) with the Port Authority of Thailand (PAT) for the port development in Chon Buri, starting with Terminal F construction.
The investment value for berth structure development is around 30 billion baht.
"We are more than ready to cooperate with the government in pushing this port to become a strategic regional logistics hub," said Ratthaphol Cheunsomchit, deputy chief executive of Gulf on behalf of GPC.
The PAT, which plans to invest more than 50 billion baht for the port development, is in charge of sea reclamation, while GPC is responsible for the design, construction, and operation and maintenance services for F1 and F2 container berths to accommodate container throughput and implement automation technology.
The port can handle a container throughput capacity of 4 million twenty-foot equivalent units a year.
Construction of F1 and F2 container berths are slated for 2023 and 2027 respectively, with commercial operations scheduled in 2025 and 2029.
F1 is expected to generate 4 billion baht in revenue a year, with F2 increasing the combined tally to 8 billion annually.
Mr Ratthaphol said GPC will develop Laem Chabang into a world-class port with the same standards as the top 25 ports in the world.
The port is designed to have full automation management and eventually serve as a dry port connecting with road and rail systems to help logistics operators save on transport costs.
GPC consists of Gulf, which holds a 40% stake, as well as PTT Tank Terminal Co and Chec Oversea Infrastructure Holding PTE, each holding a 30% share.
The joint venture earns income from port operations such as berth hire, wharf handling charges, container wharfage and other related fees under the 35-year PPP contract.