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Thai junta looks to revive high-speed train project

Thailand's military junta has asked the relevant government agencies to look into the possibility of reviving the country's high-speed train project.

BANGKOK: Thailand's military junta has asked the relevant government agencies to look into the possibility of reviving the country's high-speed train project.

The study will cover the benefits and investment value of the project as well as study the source of funding, according to the National Council for Peace and Order's (NCPO) deputy spokesman, Colonel Nattawat Chancharoen.

The government might co-invest with the private sector in the project, he told a press conference after a meeting of the junta's NCPO, chaired by Army chief General Prayuth Chan-ocha.

"Domestic funds could be the source of investment," he added.

Nattawat said the meeting on economic security and stability as well as social security, was attended by heads of government agencies such as the National Economy and Social Development Board (NESDB) and Bureau of Budget.

Reviving Thailand's economy is a priority of the military council as it has been experiencing slow growth due to political conflict over half the year.

The high-speed train project was among those identified under the 2.2 trillion baht infrastructure fund proposed by the ousted government of former Prime Minister Yingluck Shinawatra.

However, the legislation to authorise the borrowings for the fund was dropped after Thailand's Constitutional Court ruled the bill unconstitutional, as government expenditure must be allocated under the Budget Act to ensure transparency and accountability.

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