The Cabinet on 28 May 2019 approved the proposal by the Eastern Economic Corridor (EEC) Policy Committee to assign the State Railway of Thailand to co-invest with the selected private company in constructing a high-speed rail project linking three airports.

The three airports include Don Mueang airport in Bangkok, Suvarnabhumi airport in Samut Prakan, and U-Tapao airport in Rayong. CPH, a consortium of Charoen Pokphand Holding Company, has been selected to carry out this project jointly with the State Railway of Thailand. 

Last year, on March 27, 2018, the Cabinet agreed for the State Railway of Thailand to co-invest in the project with the private sector with a budget of not more than 119,425.75 million baht. The State Railway of Thailand will pay the private sector for the project on a yearly basis for a period of at least 10 years. 

The EEC Policy Committee, during its meeting on 13 May 2019, decided to seek Cabinet approval for the State Railway of Thailand to create debt for the project in an amount of 149,50 million baht. The State Railway of Thailand will pay the private sector not over 14,965 million baht a year. 

The Cabinet on May 28 also gave the nod to the EEC Policy Committee to set up a unit to supervise and manage the joint investment contract for the high-speed rail project. 

The project is part of major transport infrastructure in the development of the EEC, covering Rayong, Chachoengsao, and Chon Buri provinces. It spans a distance of 220 kilometers. An express train will take about one hour and a normal train about one hour and 40 minutes.