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Thailand Plans THB1.47 Trillion Project To Improve Rail Service

BANGKOK -(Dow Jones)- Thailand's Transport Ministry will propose to economic ministers at a meeting Wednesday a plan involving investment worth THB1.47 trillion ($44.14 billion) to upgrade the railway system and services to meet international standards.

Under the first stage of the development plan for the State Railway of Thailand, the SRT will spend THB46 billion between 2010-2014 to replace old train engine cars, improve railway and signaling systems nationwide, Transport Minister Sophon Zaram told reporters Tuesday.

Upon completion of the initial stage, the SRT will invest THB392 billion to expand network coverage by 2,651 kilometers and at the same time spend THB323 billion to develop dual-track lines nationwide from single-track at present, he said.

In the final phase, the government plans to allow the private sector to invest around THB708 billion on high-speed trains nationwide.

The SRT will also seek to restructure its organization and management structures to improve efficiency, said Sophon.

-By Phisanu Phromchanya, Dow Jones Newswires; 662-266-0744; phisanu.phromchanya@dowjones.com

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