MRTA scraps Orange Line bidding
Legal dispute ties up western section
published : 4 Feb 2021 at 04:00
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Bidding for the construction of the western section of the MRT s Orange Line, which will run from the Thailand Cultural Centre to Bang Khun Non, has been cancelled following a legal dispute.
The decision was taken yesterday by the contractor selection committee of the Mass Rapid Transit Authority (MRTA), the project owner.
The MRTA said it had indefinitely postponed the process to pick a contractor because the dispute on the bidding criteria was still far from resolved.
The western section of the Orange Line was designed to run underground for 13.4 kilometres to link the centre of Bangkok to the capital s western suburbs.
Orange Line bidding contest scrapped
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published : 3 Feb 2021 at 16:44
7 The Mass Rapid Transit Authority activates a tunnel-boring machine for the eastern section of the Orange Line under Ramkhamhaeng Road in Bang Kapi district, Bangkok, in March last year. (Photo: Somchai Poomlard)
Bidding has been cancelled for the western section of the Orange Line in Bangkok, running from the Thailand Cultural Centre to Bang Khun Non area, after a legal dispute over bid criteria.
The contractor selection committee of the Bangkok’s east-west electric railway project made the decision on Wednesday.
The Mass Rapid Transit Authority, the project owner, said that a legal dispute on the project was no closer to resolution and thus blocked it from setting a timeframe for the selection of the contractor. That could delay the selection and affect the whole Orange Line.
TRIS Rating affirms the company rating on Gulf Energy Development PLC (GULF) at ?A?. At the same time, we affirm the ratings on GULF?s senior unsecured debentures at ?A-?. The rating outlook remains ?stable?. The issue ratings? one notch below the company rating reflects the structural subordination of the claims under the debentures, due to GULF?s status as a holding company, compared with the debt obligations of the company?s operating subsidiaries.
The ratings reflect the company?s position as one of the leading power producers in Thailand, its well-diversified portfolio, predictable cash flows from its long-term power purchase agreement (PPA) with the Electricity Generating Authority of Thailand (EGAT, rated ?AAA/Stable? by TRIS Rating), as well as proven record of developing and operating power plants. In contrast, the ratings are constrained by risks associated with the company?s overseas expansion and a rise in its debt load. The recent capital increase helped reduce leverage
No more late passes
published : 18 Jan 2021 at 04:30
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After more than five years of delay, the House of Representatives has finally decided to fine the contractor responsible for the new parliament s construction. However, whether the penalty will be enforced or not remains in doubt.
The secretariat of the House of Representatives recently rejected a request by Sino-Thai Engineering and Construction Plc (Stecon) to extend the construction period of the 23-billion-baht parliament complex for a fifth time, from January to May, after the company failed to finish the project by the deadline set on Dec 31.
Following the decision, Stecon is now subject to a fine of 12.3 million baht per day, until construction is complete.
Error gets firm off NACC bribery hook
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Construction giant STEC charged under wrong section of Criminal Code
published : 17 Dec 2020 at 07:55
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The National Anti-Corruption Commission (NACC) has decided not to seek the prosecution of Sino-Thai Engineering and Construction Plc (STEC) in a bribery case that allegedly occurred in 2015.
Commissioners voted 6 to 3 on Tuesday not to prosecute the company after finding that the wrong law had been applied to the case from the outset, the Isranews Agency reported.
During the course of the investigation, the firm was accused of paying bribes in contravention of Section 144 of the Criminal Code when it should have faced charges of violating Section 149 for allegedly assisting state officials to demand ill-gotten gains.