Railway Industry

Thailands Railway Industry
Overview and Opportunities for

Foreign Businesses
February 2014
CONFIDENTIAL AND PROPRIETARY

Any use of this material without specific permission of UMI Asia (Thailand) Ltd. is strictly prohibited
OVERVIEW
DOC ID
Executive Summary Current Railway Sector: Thailand (1/2)

UMI ASIA Ltd. has conducted this research study for Swiss Rail to examine the railway industry in Thailand, as part of a series of
studies on the railway market in Southeast Asia. This project is aimed at providing insight into the opportunities and challenges
prevalent in the Thai railway sector. For this, thorough desk research has been conducted to examine the current railway industry
and future expansion plans.
Working Draft - Last Modified 7/29/2011 8:36:50 PM
We begin our research by examining the business climate in Thailand, including a brief overview of the economic prospects,
political developments and relevant infrastructure quality of the country.
Thailand has enjoyed a strong economic growth of 7.6% from 2008 to 2012. Despite the current political climate, this strong
positive trend is expected to continue, with forecasted GDP growth of 4% - 5% in 2014.
Thailand has undergone multiple political reforms in the past decade, with the current political tension continuing beyond the
February 2014 election. The uncertain political climate has put on hold several government projects, posing a risk for
investment.
The overall quality of infrastructure in Thailand is one of the most developed in the region, with the exception of railways.
The government plans to invest heavily in the improvement of the current underdeveloped rail infrastructure, providing a
major opportunity for investment.
UMI Asia (Thailand) Ltd.
Printed
Next, we examine the current railway industry, including existing operators, track infrastructure and rolling stock.
! The national rail network expands through major provinces in Thailand with capital city, Bangkok, the only province with urban
mass transit train systems
! There are 4 rail operators in Thailand, 3 of which operate the Bangkok mass transit system
State Railway of Thailand (SRT) is state-owned and the national rail operator in Thailand
Total track length of 4,035 km, running on 1,000 mm track gauge (meter gauge)
Active rolling stock include 253 locomotives, 1,244 passenger coaches, 5,041 freight wagons
SRT Electrified Train (SRTET) is a subsidiary of SRT, operating the Airport Rail Link in Bangkok
Total track length of 28.6 km, running on 1,435 mm track gauge (standard gauge)
Uses electric trains from Siemens, operating a total of 9 trains
Bangkok Mass Transit System Company Limited (BTSC) operates the BTS Skytrain in Bangkok
Total track length of 36.75 km, running on 1,435 mm track gauge (standard gauge)
Uses electric trains from Siemens (35 units) and CNR (12 units)
Bangkok Metro Public Company Limited (BMCL) operates the MRT subway trains in Bangkok
Total track length of 20 km, running on 1,435 mm track gauge (standard gauge)
Rolling stock compose of 19 trains from Siemens
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OVERVIEW
DOC ID
Executive Summary Challenges and Future Prospect: Thailand (2/2)
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Printed
The success of the much needed improvement and expansion of rail networks in Thailand will depend
on the parliaments approval of the governments THB 2.0 trillion Infrastructure Investment
Program. The future of railways in Thailand is composed of high speed rail networks and doubletrack rails to increase efficiency of freight and passenger traffic. Bangkok will also see an effective
mass transit train system that will connect the entire Bangkok Metropolitan Region.
Four high speed rail routes are planned throughout the country: (1) Bangkok Chiang Mai; (2)
Bangkok Rayong; (3) Bangkok Nong Kai; (4) Bangkok Padang Besar
Six double-track rail network projects are planned to increase the speed of freight and passenger
transport
In Bangkok, ten mass rapid transit rail lines are planned to connect outer Bangkok to the city center,
including the extension of two existing MRT and BTS lines
Train operators also plan to increase their rolling stock to boost capacity
Several challenges have also been revealed in our study of the railway industry.
SRTs fleet is ageing with more than 60% of locomotives at least 30 years old. The ageing fleet and
track infrastructure has contributed to frequent accidents and train derailments in Thailand.
State-enterprises such as SRT and SRTET are struggling with financial losses and speculation of
corruption that have increased public scrutiny over government mega-projects
Mass rapid transit system in Bangkok struggle to meet demands as the MRT and BTS do not reach
outer Bangkok. Technical problems are also common.
Expansion plans within Bangkok requiring the expropriation of land have also faced local resistance
DOC ID
Contents
Overview of the Thai railway sector
National Railway
Urban Transport
Printed
Thailand Country overview and economic

outlook
| 3
COUNTRY OVERVIEW
DOC ID
Thailand is the 2nd largest economy in ASEAN after Indonesia

Country Key Facts
Total Area: 513,120 sq km
Administrative divisions: 77 provinces
Capital City: Bangkok
Shares border with: Myanmar, Laos,
Cambodia, Malaysia
!
!
!
!
Source: Central Intelligence Agency
Printed
Population: 67,448,120 (July 2013 est.)

Population growth rate: 0.52% (2013 est.)
! Ethnic groups: Thai 75%, Chinese 14%,
Others 11%
! Languages: Thai, English (secondary
language, business language), ethnic and
regional dialects
Unemployment rate: 0.7% (2012 est.)
Inflation rate: 3% (2012 est.)
Total GDP: USD 366,076.10 million (2012
est.)
GDP growth: 7.64 % CAGR (2008-2012)
Corporate Income Tax: 10-23%
| 4
COUNTRY OVERVIEW
DOC ID
Despite political unrest in 2010 and a major flood in 2011, Thailand had an
average annual GDP growth rate of 7.6% from 2008 to 2012
GDP Thailand 2008 2012
(USD Billion)
! GDP in 2012 was
worth USD 365.6 billion
391-395
377
366
+4.0-5.0%
3.0%
346
+7.6%
319
! This growth was

despite major setbacks
of political unrests in
2010, as well as a
major flood catastrophe
in 2011 which affected
major parts of the
country, especially
industrial areas
! Expected growth in
2014 is 4.0-5.0%
266
10
0
2008
Source: World Bank
2009
2010
2011
2012
2013E
2014E
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Printed
273
! Average growth rate

throughout the past 5
years was 7.6%
400
390
380
370
360
350
340
330
320
310
300
290
280
270
260
COUNTRY OVERVIEW
DOC ID
In addition to strong economic growth, Thailand is also an attractive

investment location in Asia with a very business-friendly environment
World Bank ease of doing business 2013
(Source: World Bank)
AT Kearny Global Services Location Index 20111

(Source: AT Kearny)
Country 2011
Ranking
Singapore
Malaysia
Malaysia
12
Indonesia
Thailand
18
Thailand
Brunei
79
Vietnam
China
91
Philippines
Vietnam
99
Singapore
32
Indonesia
128
Cambodia
133
Philippines
138
Laos
163
Thailand ranked globally among the top

10% of countries in terms of ease of
doing business
Printed
Ranking
Country 2013
Thailand is among the top countries in the

world in terms of services, with a strong and
continuously improving IT infrastructure
1 Study analyzes and ranks the top 50 countries worldwide as the best destinations for providing outsourcing activities, including IT services and
support, contact centers and back-office support
Source: World Bank, AT Kearny
| 6
COUNTRY OVERVIEW
DOC ID
The overall infrastructure of Thailand is among the highest ranked in

Southeast Asia, with only rail infrastructure still lagging behind
Quality of Infrastructure
(Ranking out of 148 countries)
Southeast
Asia
Overall
Rail
Roads
Port
Air
Thailand
61
72
42
56
34
Indonesia
82
44
78
89
68
Vietnam
110
58
102
98
92
Myanmar
146
104
138
136
146
China
74
20
54
59
65
India
85
19
84
70
61
40
Germany
10
11
United States
19
17
18
16
18
Switzerland
Europe
North
America
Source: World Economic Forum: Global Competitiveness Report 2013
Currently, the quality of

roads and air transport in
Thailand are among the
highest ranked in Asia
Pacific
Thailand is, however,

behind in its railway
development compared to
other selected Southeast
Asian countries
The government is
dedicating approximately
80% of their THB 2.0 trillion
infrastructure development
plans to railway expansion
projects, to be completed
in 2020
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Printed
Asia
Pacific
Country
Region
COUNTRY OVERVIEW
DOC ID
Thailands political system is a constitutional monarchy

Political System in Thailand
! Government type: Constitutional
Monarchy
Judicial branch:
- Independent of the executive
and the legislative branches
- Constitutional Court plays a
major role in protecting the
constitution
Source: Central Intelligence Agency, Bangkok Post Dec 2013
! Thai Prime Minister Yingluck Shinawatra has dissolved

parliament in December 2013
! Thai government proposed new election in February
2014 with opposition from the anti-government
protestors
Political Effects to Thai Economy
Despite facing a number of political challenges,

Thailand has made great progress in social and
economic issues
Economic growth forecast for 2014 is approximately

4.8% (Bank of Thailand)
Potential impact on the schedule of government

mega-projects and foreign investments
However, any government can be expected to

proceed with infrastructure expansion projects
Printed
Legislative branch:
- Bi-cameral National Assembly or
Rathasapha consisting of the
House of Representatives and
the Senate
! Demonstrators in Bangkok seeking to oust Prime

Minister Yingluck Shinawatra sparked the most violent
anti-government clashes in more than three years
Executive branch:
- Chief of State: King Bhumibhol
Adulyadej (since 9 June 1946)
- Head of Government: Prime
Minister Yingluck Shinawatra
- Cabinet: Council of Ministers
Current Political Situations
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COUNTRY OVERVIEW
DOC ID
Opportunities With strong FDI policies in place, Thailand holds many

opportunities for future foreign investments
Description
Thailands modal shift

from road to rail
transport
Currently
underdeveloped rail
infrastructure
High rankings for

ease of doing
business
Source: Team analysis
Despite strong rankings in quality of roads and air transport, Thailand is behind
in railway developments
This offers many opportunities for railway solution providers to offer their
products, not just for new infrastructure development, but also for upgrades
of existing tracks and rolling stock
According to a survey for the ease of doing business (2013) conducted by
World Bank, Thailand ranked 18th globally and 3rd in ASEAN
Availability of highly skilled labor
Thailand is well located to facilitate cargo transportation as it has access to
multiple sea ports. Future improvements of railway to enhance logistics will
further push Thailand to be the logistics hub of ASEAN
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Printed
Under the government infrastructure investment program of THB 2.0 trillion,

more than 80% is allocated to railways
The key focus of this program is to cause a modal shift from road to rail
transport in order to increase the efficiency of freight transport and to decrease
overall logistics cost in the country
Strong upward trend in passenger ridership for mass transit trains in Bangkok
Realization of the
ASEAN Economic
Community in 2015
As the 2nd biggest economies in the ASEAN region, Thailand is a good

gateway to the rest of the region
One of the key priorities in the actualization of AEC is ASEAN connectivity.
Future rail networks will connect the entire region with linkages to special
economic zones and ports
COUNTRY OVERVIEW
DOC ID
Risks Despite various opportunities in Thailand, the country also faces

some challenges
Description
Political uncertainty
Corruption
According to the Corruption Perceptions Index 2013, Thailand ranked

102 out of 177 countries. In ASEAN, Thailand ranks below Brunei,
Singapore, Malaysia and the Philippines in corruption level
Local networks are fundamentally important to conducting business in
Thailand
Several political unrests have erupted in Thailand in the past decade,

causing some delays in government mega projects
Decrease in GDP growth forecast from 5% to 4.8% due to decrease in
exports following political unrest
Printed
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DOC ID
Contents
National Railway
Urban Transport
Printed
Thailand Country overview and economic outlook
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OVERVIEW OF THE THAI RAILWAY SECTOR
DOC ID
The history of railway in Thailand goes back 123 years

Year
Event
1891
1917
First rail service between Bangkok and Ayutthaya on March 26, 1894
Bangkok Tram service installed in late 1890s and continuously expanded
1894
Royal Proclamation for to the construction on the first state railway line in Siam from
Bangkok to Nakhon Ratchasima in the Northeast
Foundation Laying ceremony, presided over by H.M. King Chulalongkorn (Rama V)
on March 9, 1891
Construction undertaken by British engineers under G.M. Campbell
Two parallel systems of 1000 mm gauge (Southern Railway Department) and 1435
mm gauge (Northern Railway Department) co-exist
On June 5, 1917, Northern and Southern Railway Departments were merged to form
the Royal State Railway of Siam (RSR)
Royal Decision to standardize the track gauge to be 1000 mm, with conversion to be
completed within 10 years
1945
Most of Thailands railway infrastructure is destroyed through air-raids during World

War II
1951
Royal State Railway of Siam becomes a state enterprise and is renamed to State
Railway of Thailand (SRT)
1968
Bangkoks Tram service is cancelled due to low passenger traffic
1999
2004
Bangkoks underground train, Metropolitan Rapid Transit (MRT) starts operation on

July 3, 2004; the service is operated by privately-owned Bangkok Metro Company
Ltd. (BMCL)
2010
Bangkoks Airport Rail Link, operated by SRT, starts services between the city
center and Suvarnabhumi International Airport
Printed
1920
Bangkok Mass Transit System (BTS; also called Skytrain), mainly built to alleviate
heavy traffic in the city, starts operation on December 5, 1999; the service is operated
by Bangkok Mass Transit System Public Co. Ltd. (BTSC)
Source: State Railway of Thailand; Web research
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DOC ID
Thailands rail system has continuously grown over time, and is about to
face another major expansion
Future outlook
Development of track km over time

(kilometer of tracks in Thailand)
Significant expansion of railway

tracks by 67% compared to current
network
Government plans to build highspeed railway connections to

major cities within Thailand:
+67%
Phase 1: Bangkok Nakhon

Rachasima (260km)
Phase 2: Bangkok
Phase 3: Bangkok Hua Hin
(200km)
1868
1910
1924
1946
Source: State Railway of Thailand, Reuters
2013 2017e 2020e
Future plans for further expansion

to connect neighbouring countries:
Bangkok Vientiane / Laos

(615km)
Bangkok Padang Basar /

Malaysia (980km)
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Printed
Chiangmai (700km)
DOC ID
There are 4 railway operators in Thailand (1/2)

State Railway of Thailand (SRT)
State Railway of Thailand Electrified Train

(SRTET)
Operations
Currently, total track length of 4,035 km,
connecting the North, Northeast, East, and
South of Thailand
Extension of 1,160 km planned and additional
1,595 km under discussion
Active fleet of 483 tractive stock:
222 Diesel Electric Locomotives
31 Diesel Hydraulic Locomotives
230 Diesel Multiple Units
Operations
Currently, total track length of 28.6 km
connecting only Suvarnabhumi Airport to central
Bangkok
Plans to extend the Airport Rail Link to Don
Mueng Airport
Train fleet consists of the Siemens Desiro class
360/2
Total of 9 trains in operation
Source: State Railway of Thailand; BTS; MRTA; Web research
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Printed
Brief description
Subsidiary of the state-owned rail operator SRT
operating only in Bangkok
Operates the Airport Rail Link train system
which connects Suvarnabhumi Airport to central
Bangkok since 2010
Brief description
State-owned rail operator with nation-wide
connections to major cities in Thailand
Operating train services since 1890
The SRT operates all of Thailand's national rail
lines, with Hua Lamphong (or Krungthep
Station) being the main passenger terminal for
all routes
DOC ID
There are 4 railway operators in Thailand (2/2)

Bangkok Mass Transit System Company
Limited (BTSC)
Bangkok Metro Public Company Limited

(BMCL)
Operations
Total track length 36.75 km with 2 lines
between Central Business District and
surrounding areas in 4 directions (N, W, E, S)
Rolling stock from Siemens (35 trains, since
1999) and China Northern Railway
Bombardier Joint Venture (12 trains, since
2010)
Operations
Total track length 20 km with currently only one
line, connecting Hua Lamphong central train
station with the Central Business District and
northern suburbs
Rolling stock from Siemens (19 trains, since
2004)
Source: State Railway of Thailand; BTS; MRTA; Web research
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Printed
Brief description
Under a concession granted by the Mass Rapid
Transit Authority of Thailand (MRTA)
Operates the MRT underground rapid transit
system serving the Bangkok Metropolitan
Region
In operation since 2004
Brief description
Subsidiary of BTS Group Holdings under a
concession granted by the Bangkok
Metropolitan Administration (BMA)
Operates the BTS elevated rapid transit system
serving the Bangkok Metropolitan Region
In operation since 1999
DOC ID
Three governing bodies oversee Thailands railway systems

National
Government Bodies
State Enterprises
Private Companies
Bangkok
Subsidiary
Governing Bodies
MOT
Ministry of Transport
BMA
Bangkok Metropolitan
Administration
Operators
MRTA
Mass Rapid Transit
Authority
SRT
State Railway of
Thailand
National Rail
High Speed Train
SRTET
SRT Electrified Train
BMCL
Bangkok Metro Public
Company Limited
BTSC
Bangkok Mass Transit
System Company
Limited
Airport Rail Link
MRT
(Underground Train)
BTS
(Skytrain)
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Printed
Train systems
Future
DOC ID
Regulators
Roles / Responsibilities
Relevance
Ministry of Transport (MOT)
! Policy maker for transportation-related business, traffic

planning, transport infrastructure
! Propose transport projects to parliament
! Oversees all
transport activities
and related
agencies
Mass Rapid Transit Authority (MRTA)
! Study, analyze, and formulate projects concerning mass

rapid transit in Bangkok and its vicinity (as well as other
appointed provinces)
! Project owner of most Bangkok mass transit lines
! Provides
concession to
BMCL (25%
owner)
Bangkok Metropolitan Administration

(BMA)
! Formulate and implement policies regarding the

management of Bangkok: transport services, urban
planning, waste management, housing, roads and
highways, security services and the environment.
! Project owner of several Bangkok mass transit lines
! Provide
concession to
BTSC
Office of Transport and Traffic Policy

and Planning (OTP)
! Planning of policies, safety, unity of national transport

! In accordance to the policies of Ministry of Transport
! Regulators
Department of Land and Transport

(DLT)
! Systemize, regulate land transport, implement plans
! Regulators
! Operator of national railways and future high speed trains
! National railway
operator
SRT Electric Train (SRTET)
! Operator of the Airport Rail Link that connects central

Bangkok to Suvarnabhumi Airport
! Subsidiary of SRT
Bangkok Metro Public Company

Limited (BMCL)
! Operator of the MRT (underground train) in Bangkok

! Other business segments: commercial development
! MRT operator
Bangkok Mass Transit System

Company Limited (BTSC)
! Operator of the BTS (skytrain) in Bangkok

! Other business segments: property, media, services
! BTS operator
Source: Ministry of Transport; Web research
Printed
Operators
Entity
Governing Bodies
Relevant entities in Thailands railway system have clearly defined roles
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DOC ID
The Thai railway sector faces several challenges, which is reflected in the
low international ranking of rail infrastructure quality
Quality of Infrastructure
(Ranking out of 148 countries)
Country
Rail
Road
Port
Air
Overall
on single-track rails; average train speeds
Japan
12
30
37
14
are only 39 km/hour for freight and 60 km/
Switzerland
40
hour for passenger trains
Hong Kong
Singapore
10
Malaysia
18
23
24
20
25
Indonesia
44
78
89
68
82
Printed
Vietnam
58
102
98
92
110
Thailand
72
42
56
34
61
Philippines
89
87
116
113
98
104
138
136
146
146
! The SRTs trains are very old and run mostly
! Train delays are common due to undermaintained tracks

! The Bangkok mass rapid transit system are
only concentrated in the CBD, with a reach
of only 7.6 km per million people
! Safety is a major concern, with several train
derailments each year
Myanmar
Source: Global Competitiveness Report (WEF); Office of Transport and Traffic Policy and Planning (OTP)
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DOC ID
Within the Governments THB 2.0 trillion Infrastructure Investment

Program, a major portion will go to railway projects
Out of the Governments THB 2.0 trillion
infrastructure program
100% = THB 2.0 trillion (USD 66.7 bn)

Key Points:
Plan to secure 2.0 trillion baht by year 2020
for transportation infrastructure development
Key focus is to cause a modal shift from
road to rail transport
83% are allocated to railway projects
Water Others
Road
1%
2%
Details:
Rail expansion is split into 3 types of
projects (High Speed Rail, Double Tracks,
and Urban Transport)
Road projects include the construction of
highways, bridges, and railway crossings
Status: Awaiting approval of bill by Parliament
Source: Ministry of Transport; Web Research, Phatra Securities
Printed
Key Objectives:
Cut logistics cost from 15.2% to 13.2% of
GDP
Create 1.6mn jobs
Annual GDP growth of 1%
83%
Rail
THB 1.66 trillion (USD 55.3 billion) to be
used for rail network
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DOC ID
Railway expansion projects can be broken down into 3 groups of projects

Breakdown of rail budget allocation1
100% = THB 1.66 trillion (USD 55.3 bn)
28%
High Speed
Trains
47%
24%
Double-Track Rail Improvements

Project owner: SRT
Track length: 2,857 km by year 2020
Connectivity: 43 provinces
Planned spent for expansion: approximately THB 398
billion (USD 13 billion)
Project Timeline: 2013-2020
Printed
DoubleTrack rail
High Speed Trains

Project owner: SRT (initially, then spun off as separate)2
Track length: 1,447 km
Connectivity: (1) BKK-Chiang Mai, (2) BKK-Nong Kai, (3)
BKK-Rayong, (4) BKK-Padang Besar
Bangkok Mass Transit Systems

Project owner: SRT, SRTET, MRTA, BMA
Possible operators: SRT, SRTET, BMCL, BTSC
Track length: 421.55 km
Connectivity: 10 lines
Source: 1Bangkok Post, 26 July 2013; Web research, 2Phatra Securities, Ministry of Transport
BKK Mass
Transit systems
Major expansion projects (2013-2020)
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DOC ID
Railway expansion will commence promptly after the approval of the

Infrastructure Investment Program by parliament
Activity
2013 2014 2015 2016 2017
Printed
Source: Ministry of Transport; as of 30 July 2013

! Bidding process for the construction of 3 high-speed rail lines
(BKK-Chiangmai, BKK-Pitsanulok, BKK-Padang Besar)
! Bidding process for 5 double-rail tracks
! Bidding process for new SRT line (Den Chai Chiang Rai Chiang Kong)
! Bidding process for high-speed rail lines to connect Suvanarnabhumi Airport
(via Airport Rail Link) Chonburi Pattaya Rayong
! Bidding process for new SRT line (Baan Pa Chi Nakorn Luang)
! Bidding process for the construction of 6 double-rail tracks
! Bidding process for new SRT line (Baan Pai Nakorn Panom)
! Maintenance and repair of tracks, sleepers, bridges and fences
Bangkok Mass Transit
! Construction of ongoing projects
Purple line (Bangyai-Bangsue)
Blue line (Hua lamphong-Bangkae and Bangsue-Tha Pra)
Green line (Bearing-samutprakan)
! Bidding process for mass rapid transit lines
(1) Light red line
(2) Dark red line
(3) Green line (Mochit Kukot)
(4) Pink line
(5) Orange line
(6) Yellow line
! Bidding process for mass rapid transit line:
(1) Green line (Samut Prakarn Bang Pu)
(2) Connection of Suvarnabhumi Airport to Don Muang Airport (Bang Sue / Phayathai)
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DOC ID
The majority of spending will happen during 2016-2018

Cumulative spend
Planned Investment
Planned investment for transportation infrastructure (2013-2020)

(THB Billion; Cumulative spend in Percent)
100%
471
450
90%
426
400
80%
372
350
70%
293
300
60%
50%
200
150
150
40%
172
30%
95
100
50
0
20%
10%
0
2013
0
2014
Source: Ministry of Transport; as of 30 July 2013
2015
2016
2017
2018
2019
2020
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Printed
250
500
DOC ID
Contents
National Railway
Printed
Urban Transport
| 23
STATE RAILWAY OF THAILAND (SRT)
DOC ID
Table of Contents

1. General overview
2. Track infrastructure
3. Rolling stock
Printed
4. Key statistics and additional information

5. Current challenges
6. Expansion plans
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DOC ID
Company Profile: State Railway of Thailand (SRT)

Company Description
SRT is a state-owned enterprise; in operation since 1890
SRT operates the nation-wide rail network and also owns the SRTET, a subsidiary that
operates the Airport Rail Link in Bangkok
Logo
Rolling stock
Total of 253 locomotives in use, including Diesel
Electric Locomotives and Diesel Hydraulic
Locomotives
Total of 1244 passenger coaches in use
Total of 5041 freight wagons in use
Current Budget (THB million)1
Ownership structure (Percent)
Printed
100% = 18,061.27
Remaining budget
5%
Liability
Track data
Track gauge: 1,000 mm
Northern Line, Northeastern Line, Eastern Line,
South Line, Mae Klong
Mostly single-track rails
State-owned
16%
100%
Used
79%
1 As of 30 Jun 2013
Source: State Railway of Thailand; Web research, Ministry of Transport: Budget 2556 Presentation
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DOC ID
Organization Chart of SRT
Board of Commissioners
[Ms. Soithip Traisuth]
Governor
[Mr. Prapas Jongsa-nguan]
Internal Audit Department

[Mr. Kriangkrai Nuchlamyong]
Governor Bureau
[Mr. Surat Dabmai]
Policy, Planning, Service, Research and

Development Bureau
[Mr. Aek Sithiwaekin]
Property Management Bureau

[Ms. Moleemas Chatrakom]
Public Relation and Tourism Services

Center
[Ms. Montakarn Sriwilas]
Chief Operation
[Mr. Sipith Thetha]
Board of Commissioners, Coordination

and Secretarial Center
[Mr. Vichai Kasisopa]
Legal Bureau
[Mr. Vitoon Sansoen]
Verify Control and Evaluation Division

[Mr. Podchana Vipatawat]
Deputy Governor Infrastructure 1

[Mr. Pakorn Tangjaedsakao]
Deputy Governor Infrastructure 2

[Mr. Kamol Tangkijcharoenchai]
Deputy Governor Administration

[Mr. Viroj Triampongpat]
Business Unit
Traffic Management
[Mr. Prachak Manotham]
Signalling and Telecommunications

Department
[Mr. Soonthorn Balyor]
Personnel Department
[Mr. Peerapat Pantrakarn]
Traffic Department
[Mr. Charaspan Racharothai]
Special Project and Construction

Department
[Mr. Charae Rungthanee]
Electrified Rail Management

Bureau
[Mr. Sitthichai Boonsermsuk]
Finance and Accounting

Department
[Mr. Peeradej Nukwan]
Marketing Department
[Mr. Worawuth Mala]
Information System Department

[Mr. Awirut Thongnet]
Container Transport Bureau

[Mr. Kanuan Kamnak]
Property Management and

Development Department
[Mr. Paisarn Subrungroj]
Business Unit
Maintenance
[Mr. Sitthipong Promla]
Mechanical Engineering
Department
[Mr. Narongrit Siwasaroj]
Printed
Civil Engineering Department

[Mr. Suprapas Saeneewong Na
Ayuthaya]
Business Unit
Property Management
[Mr. Prasert Atthanan]
Stores Department
[Mr. Thaweesak Sutthiserm ]
Medical Bureau
[Dr. Laksamee Riankittiwat]
SRTET Co., Ltd.
Airport Rail Link
Risk Management Center
[Ms. Suwan Kliangpraneet]
Railway Police Division

[Pol.Maj.Gen. Surapong
Siripakdee]
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DOC ID
Table of Contents

1. General overview
3. Rolling stock
Printed

6. Expansion plans
| 27
DOC ID
SRTs total rail network covers 4,035 km of track

Current route network
Northern Route
Track length: 781 km
Key Cities: Ayutthaya, Lopburi, Pitsanulok, Chiangmai
Connection frequency: 23 times per day
Travel duration: ~12 hours (BKK-Chiangmai)
Northeastern Route
Key Cities: Saraburi, Nakhon Ratchasima, Ubon Ratchathani, Konkaen, Udon
Thani, Nongkhai
Travel duration: ~13 hours (BKK-Nong Khai)
Printed
Eastern Route
Track length: 527 km
Key Cities: Chachoengsao, Chonburi, Pattaya, Sattahip
Travel duration: ~4 hours (BKK-Pattaya)
Southern Route
Key Cities: Chumphol, Surat Thani, Hat Yai (on to Singapore)
Travel duration: ~22 hours (BKK-Sungai Kolok)
Mae Klong Route
Track length: 65 km
Key Cities: Samut SongKhram
Travel duration: ~1 hour (Ban Leam-Mae Klong)
| 28
DOC ID
Out of SRTs 4,035 km of track, 93% are currently single track

Thailands track infrastructure by type1
(Track km)
107
173
Printed
Single Track
Double Track
Triple Track
Total
93%
4%
3%
100%
Numbers as of 2009; excludes commercial tracks / separate track systems
| 29
DOC ID
Most sleepers are mono concrete block type sleepers

Breakdown of sleepers by type1
(Track km)
Mono
concrete
block
Total
2,565,002
4,794,889
2,637
Printed
Two
concrete
block
1,539
459,304
253
4,429
7,819,195
Wooden
block
Sleeper count
(Number)
| 30
DOC ID
In main routes, most of the old rails are 70 pound-type, while new rails are
100 pound-type
Breakdown of rails by type1
(Track km)
Age
(Years)
Main Routes
60 Pound
70-75 Pound
335
>47
50 Pound
>44
1,738
45
Printed
80-85 Pound
100 Pound
Total
1
34
811
4-10
1,423
4,364
| 31
DOC ID
More than half of the rails in Mahachai Mae Klong Route are 50-60 poundtype, all of which are over 40 years old
Breakdown of rails by type1
(Track km)
Age
(Years)
Mahachai Mae Klong Route
>40
70 Pound
41
Printed
50-60 Pound
Total
| 32
DOC ID
Table of Contents

1. General overview
3. Rolling stock
Printed

6. Expansion plans
| 33
DOC ID
For tractive stock, SRT has a total of 253 locomotives in use

Tractive Stock
In Use
36
21
19
8
29
46
46
14
3
222
Age (Years)
16
19
27
29
31-32
37-38
45-48
57-60
56-57
Diesel Hydraulic Locomotive

! KP
! HE
! HU
! HAS
Total
Total
14
6
1
10
31
In Use
14
6
1
10
31
Age (Years)
43
48
47
26-27
Source: State Railway of Thailand; fiscal year 2012
Printed
Total
38
22
20
8
30
46
46
14
3
227
Diesel Electric Locomotive

! GEA
! HID
! ADD
! ALD
! AHK
! ALS
! GE
! DA.500
! DA.1000
Total
| 34
DOC ID
For tractive stock, SRT has a total of 230 Diesel Multiple Units in use
Tractive Stock
Total
63
40
62
11
20
12
20
8
236
In Use
63
38
62
11
17
12
19
8
230
Age (Years)
41-45
29
27
27
21
16
16
16
Diesel Multiple Units

! HI-Renovate
! THN
! NKF
! ATR
! ASR
! APD.20
! APD.60
! APN.20
Total
Printed
| 35
DOC ID
Fleet age is a major challenge for SRT, with most of its tractive stock
between 26-30 years old
Age profile of SRTs tractive stock
(Number of locomotives and DMUs per age group)

Printed
15 years
or less
16-20
years
21-25
years
26-30
years
31-35
years
36-40
years
41-45
years
46-50
years
>50 years
| 36
DOC ID
Details on SRTs Locomotive fleet (1/5)

CM22-7i (GEA) 4523-4560
Technical Details
Technical Details
Manufacturer:
General Electric
Numbers:
4523 4560
Year(s) built:
1995-1996
Quantity:
38
Horsepower:
2,860 (2 x 1,430)
Max Speed:
100 km/h
Note:
Second batch of Main Line

Locomotive Programme, use
Cummins KTA-50L engine
Manufacturer:
Hitachi
Numbers:
4501 4522
Year(s) built:
1993
Quantity:
22
Horsepower:
2,860 (2 x 1,430)
Max Speed:
100 km/h
Note:
First batch of Main Line

Locomotive Programme, used
MAN B&W Diesel engine in
short term, then replaced by
Cummins KTTA-50L engine,
later modified to KTA-50L
| 37
Printed
8FA-36C (HID) 4501-4522
DOC ID

AD24C (ADD) 4401-4420
Technical Details
Technical Details
Manufacturer:
Alsthom
Numbers:
4401 4420
Year(s) built:
1985
Quantity:
20
Horsepower:
2,400
Max Speed:
100 km/h
Note:
Fourth and last batch of AD24C
Manufacturer:
Alsthom
Numbers:
4301 4309
Year(s) built:
1983
Quantity:
Horsepower:
2,400
Max Speed:
100 km/h
Note:
Third batch of AD24C
AD24C (ALD) 4301-4309
Printed
| 38
DOC ID

AD24C (AHK) 4201-4230
Technical Details
Technical Details
Manufacturer:
Alsthom, Henschel, and Krupp
Numbers:
4201 4230
Year(s) built:
1980
Quantity:
30
Horsepower:
2,400
Max Speed:
100 km/h
Note:
Second batch of AD24C, built

under license by Henschel and
Krupp
Manufacturer:
Alsthom
Numbers:
4101 4154
Year(s) built:
1974-75
Quantity:
54
Horsepower:
2,400
Max Speed:
90 km/h
Note:
First batch of AD24

locomotives
AD24C (ALS) 4101-4154
Printed
| 39
DOC ID

M1500BB (KP) 3101-3130
Technical Details
Technical Details
Manufacturer:
Krupp and Krauss-Maffei
Numbers:
3101 3130
Year(s) built:
1969
Quantity:
30
Horsepower:
1,500
Max Speed:
90 km/h
Note:
Diesel Hydraulic Locomotive
Manufacturer:
General Electric
Numbers:
4001 4050
Year(s) built:
1964 and 1966
Quantity:
50
Horsepower:
1,320 (2 x 660)
Max Speed:
90 km/h
Note:
Plans for refurbishment after

2010
UM12C (GE) 4001-4050
Printed
| 40
DOC ID

DH1200BB (HE) 3001-3027
Technical Details
Henschel
Numbers:
3001 3027
Year(s) built:
1964
Quantity:
27
Horsepower:
1,200
Max Speed:
90 km/h
Note:
All locomotives except #3015

are withdrawn; #3026
preserved; Some of them were
sold to Italian-Thai construction
and rebuilt by Vossloh, rest
were scrapped
Printed
Manufacturer:
| 41
DOC ID
Details on SRTs Diesel Multiple Units (1/4)

RTS
RHN
Technical Details
Technical Details
Manufacturer:
Tokyu
Numbers:
D9-D16 (power cars)
Manufacturer:
Hitachi
Numbers:
1011-1028 (power cars)
1971
Horsepower:
220
Max Speed:
70 km/h
Note:
Ex-Mahachai railways, to be
refurbished. Similar bodyshell of
THN and NKF but with different
formation (power car-2 trailer
cars).
11-48 (trailer cars)
Year(s) built:
1967
Horsepower:
220
Max Speed:
90 km/h
Note:
Now used as a Northeastern

line commuter train.
Printed
Year(s) built:
TS4-TS7 (central/trailer cars)
| 42
DOC ID

THN
NKF
Technical Details
Manufacturer:
Tokyu, Hitachi, Nippon Sharyo
Numbers:
1101-1140
Year(s) built:
1983
Horsepower:
235
Max Speed:
105 km/h
Note:
Similar to NKF
Manufacturer:
Nippon Sharyo, Hitachi, Fuji

Heavy Industries, Kawasaki
Heavy Industries, Niigata
Takkousho, Kinki Sharyo
Numbers:
1201-1264 (center), 2101-2112
Year(s) built:
1985
Horsepower:
235
Max Speed:
105 km/h
Note:
Similar to THN, but with plastic

chairs
| 43
Printed
Technical Details
DOC ID

ASR (Class 158 Express Sprinter)
Technical Details
Technical Details
BREL, Derby Works
Numbers:
2501-2512 (center), 2113-2120
Year(s) built:
1991
Horsepower:
285
Max Speed:
120 km/h
Note:
Metre gauge version of British

Rail Class 158, with different
gangways and couplers. 3-car
set. Some of them have been
refurbished with new seats,
vinyl floor and new livery
Manufacturer:
Daewoo Heavy Industries
Numbers:
2513-2524 (center), 2121-2128
Year(s) built:
1995
Horsepower:
298
Max Speed:
120 km/h
Note:
First batch, narrow body.
Printed
Manufacturer:
APD.20
| 44
DOC ID

APD.60
Technical Details
Manufacturer:
Daewoo Heavy Industries
Numbers:
2525-2544
Year(s) built:
1996
Horsepower:
298
Max Speed:
120 km/h
Note:
Second batch, wide body.
Printed
| 45
DOC ID
In terms of trailing stock, SRT 6,329 units are in use

Trailing Stock
In Use
1919
3117
5
5041
Age (Years)
25-110
2-86
20
Passenger Cars
Total
In Use
Age (Years)
! Air conditioned
! Non air conditioned
! Food selling
! Baggage
! Others (non-commercial)
Total
292
770
60
79
15
1260
285
766
59
75
15
1244
15-53
29-88
38-83
31-97
45-99
Service Cars
! Emergency bogie
! Track maintenance bogie
Total
Total
27
17
44
In Use
27
17
44
Age (Years)
59-92
36-97
Printed
Total
2322
3310
5
5637
Freight Wagons
! 4-wheels
! 8-wheels
! 12-wheels
Total
| 46
DOC ID
Freight wagons are classified into 3 types
Type 1: Covered Goods Wagon

! For goods that may be damaged from exposure to sunlight, wind and
rain or goods that are flammable or dangerous
! 4-wheel cars: for cargo with weight limit of 13,500-15,000 kilograms
! 8-wheel cars: for cargo with weight limit of 25,000-36,000 kilograms
Type 2: Uncovered Goods Wagon
Printed
! 4 wheels: for cargo with weight limit of 13,500-15,000 kilograms

! 8 wheels: for cargo with weight limit of 23,000-28,000 kilograms
Type 3: Specific Job
| 47
DOC ID
Details on SRTs Type 1 Freight Wagons (1/2)

Covered Goods Wagon (CG)
Technical Details
Technical Details
Fuji Japan
Model:
150401-151240
Dimensions:
2300 x 6900 x 3310 mm

(WxLxH)
Wheels:
Weight:
8.90 tons (empty), 23.9 tons

(full)
Goods weight: Max 13,500-15,000 kg

1965
Manufacturer:
Korea
Models:
25001-25158
Dimensions:
2400 x 13200 x 3380 mm

(WxLxH)
Wheels:
Weight:

(full)

Used since:
1983
Printed
Manufacturer:
Used since:
Bogic Covered Goods Wagon (BCG)
| 48
DOC ID

Salt Wagon (SW)
Salt Wagon (SW)
Technical Details
Technical Details
Yosoki Japan
Model:
61-130
Dimensions:
2127 x 6550 x 3149 mm

(WxLxH)
Wheels:
Weight:

(full)

Used since:
1961
Manufacturer:
Belgium
Models:
15001-15100
Dimensions:
2300 x 6900 x 3310 mm

(WxLxH)
Wheels:
Weight:

(full)

Used since:
1965
Printed
Manufacturer:
| 49
DOC ID

Low Sided Wagon (LS)
Technical Details
Technical Details
Japan
Model:
1177-1381
Dimensions:
2450 x 6850 x 1575 mm

(WxLxH)
Wheels:
Weight:

(full)
Goods weight: Max 13,500 kg

1941
Manufacturer:
Marcor USA
Models:
1382-1431
Dimensions:
2180 x 6553 x 1590 mm

(WxLxH)
Wheels:
Weight:

(full)

Used since:
1952
Printed
Manufacturer:
Used since:
Low Sided Wagon (LS)
| 50
DOC ID

Bogic Low Sided Wagon (BLS)
Technical Details
Technical Details
N/A
Model:
N/A
Dimensions:
2400 x 12000 x 1594 mm

(WxLxH)
Wheels:
Weight:

(full)

1968-1969
Manufacturer:
Nippon Shapyo Japan
Models:
15001-15050
Dimensions:
2442 x 6900 x 2149 mm

(WxLxH)
Wheels:
Weight:

(full)
Goods weight: Max 15,000kg

Used since:
1967
Printed
Manufacturer:
Used since:
High Sided Wagon (HS)
| 51
DOC ID

Bogie High Sided Wagon (BHS)
Technical Details
Technical Details
Manufacturer:
Australia
Model:
161-260
Dimensions:
2438 x 12001 x 2235 mm

(WxLxH)
Wheels:
Weight:

(full)
Manufacturer:
N/A
Model:
N/A
Dimensions:
2740 x 3960 x 1305 mm

(WxLxH)
Wheels:
Weight:

(full)
Used since:
1939
1962
Printed
Used since:
Hopper Wagon (HW)
| 52
DOC ID

Bogie Hopper Wagon (BHW)
Technical Details
Bogie Hopper Wagon (BHW)

Technical Details
Manufacturer:
Germany
Model:
27-56
Dimensions:
2365 x 11510 x 2115 mm

(WxLxH)
Wheels:
Weight:

(full)
Used since:
1976
Manufacturer:
Japan
Model:
42101-42120
Dimensions:
2000 x 12500 x 2850 mm

(WxLxH)
Wheels:
Weight:

(full)
Used since:
1998
Printed
| 53
DOC ID

Low-Sided Tipping Wagon (LT)
Technical Details
Bogie Flat Wagon (BFW)

Technical Details
Manufacturer:
Taiwan
Model:
15051-15100
Dimensions:
2450 x 6900 x 2103 mm

(WxLxH)
Wheels:
Weight:

(full)
Used since:
1969
Manufacturer:
USA
Model:
71-255
Dimensions:
2184 x 10578 x 2525 mm

(WxLxH)
Wheels:
Weight:

(full)
Used since:
1947-1951
Printed
| 54
DOC ID

Oil-Tank Wagon (OT)
Technical Details
Technical Details
Manufacturer:
N/A
Model:
N/A
6550 x 3115 mm (LxH)
Dimensions:

(full)
2425 x 9400 x 1518 mm

(WxLxH)
Weight:

(full)
Manufacturer:
Belgium
Model:
515001-515010
Dimensions:
Weight:
Used since:
1962-1970
Used since:
1953
Bogie Oil-Tank Wagon (BOT)
Printed
| 55
DOC ID

Container Flat Wagon (CF)
Technical Details
Bogie Container Flat Wagon (BCF)

Technical Details
Manufacturer:
N/A
Model:
N/A
Dimensions:
2300 x 6900 mm (LxH)
Wheels:
Weight:

(full)
Used since:
1986
Manufacturer:
N/A
Model:
N/A
Dimensions:
2400 x 14000 x 3918 mm

(WxLxH)
Weight:

(full)
Goods weight: 24,000-38,000 kg

Used since:
1989
Printed
| 56
DOC ID

Bogie Cement Hopper Wagon (Pressure
Discharge) (BCP)
Technical Details
Bogie Cement Hopper Wagon (BCS)

Technical Details
Manufacturer:
China
Manufacturer:
N/A
Model:
444141-444249
Model:
N/A
Dimensions:
2400 x 12500 x 3640 mm

(WxLxH)
Dimensions:
2400 x 12500 x 3886 mm

(WxLxH)
Weight:

(full)
Weight:

(full)
Used since:
1996
Used since:
1981
Printed
| 57
DOC ID

Bogie Heavy Flat Wagon (BFH)
Technical Details
Brake Van (BV)

Technical Details
Manufacturer:
Belgium
Manufacturer:
Taipei, Taiwan
Model:
45-110
Model:
15001-15100
Dimensions:
2450 x 12000 x 1323 mm

(WxLxH)
Dimensions:
2180 x 6550 x 3236 mm

(WxLxH)
Weight:

(full)
Weight:

(full)
Used since:
1958
Used since:
1965
Printed
| 58
DOC ID
Table of Contents

1. General overview
3. Rolling stock
Printed

6. Expansion plans
| 59
DOC ID
SRT has 8 different train services for passenger transport

! Type 1: Special Express
! For long distance routes with few stops in key cities

! Currently 10 trains operating this service
! Type 2: Express
! Similar to Special Express service with more freight bogies

! Type 3: Rapid
! For long distance routes with more stops than Express service
! Type 4: Ordinary
! Train service for every national routes, stopping at all stations

! Type 5: Bangkok
Commuter
! Train service for Bangkok metropolitan area (within 150 km of

Bangkok city)
! Services begin in Bangkok and end at Lop Buri (133 km), Kaeng Koi
(125 km), Prachin Buri (122 km), Ratchaburi (117 km) and Suphan
Buri (158 km)
! Type 6: Rural Commuter
! Train service to commute between provinces, stopping at all stations

! Total of 24 trains operating this service from every line
! Type 7: Mixed
! Similar to Rural Commuter service but also includes freight transport

! Currently 8 trains operating this service per day
! Type 8: Excursion
! Train service operating only on the weekends and public holidays,

stopping only at stations with tourist attractions
! Total 3 trains operating this service
| 60
Printed
Description
Train Types
DOC ID
Passenger numbers are gradually decreasing over the past two decades,
with an average annual rate of decline of 3.3%
SRT Ridership
(Million passengers per year)
+0.6%
85
87 88 88 87
-3.3%
-8.8%
72
68
65
61
61
55
-2.2%
56 56
54
51 50
49
45
47 47
45 46
41
1990 91 92 93 94 95 96 97 98 99 2000 01 02 03 04 05 06 07 08 09 10 11 2012

Gradual increase
Rapid decline
Source: Ministry of Transport; 30 July 2013
Slow and steady decline
! The steady decline of

ridership during the last
decade (on average
2.2% p.a.) may be
attributed to increasing
substitute modes of
transportation such as
private bus services
with more expansive
networks and faster
travel time
| 61
Printed
! After initial slow

increase during the
early 1990s, passenger
numbers rapidly
decreased throughout
the period of the Asian
Economic Crisis
towards the end of the
1990s
! Ridership has an
annual average
decline rate of 3.3%
over the last two
decades
DOC ID
Only 2% of Thailands freight transport is via rail

Logistics breakdown: domestic freight
transportation (2012)
(Percent)
Rail transport by commodity type (2011)

(Percent)
Road
24% Fuel
2% Rail
9%
Waterways
Printed
7%
Seaport
In 2012, 11.85 million tons of goods were

transported by rail, a mere 2% out of the total
domestic freight transportation of 520.17 million
tons of goods
Source: Ministry of Transport
Others Cement
1%
10%
Miscellaneous
Goods
In 2011, most of commodities transported by rail

were fuel and cement (24% and 10%
respectively); the majority of transport was for
miscellaneous goods and others (66%)
| 62
DOC ID
Freight transport via rail shows a positive long-term trend, but a negative
trend in recent years
SRT Freight transport volumes
(Million ton)
+1.5%
-2.8%
! However, recent
decline in freight
activity during the
past 8 years
+3.2%
1990 91 92 93 94 95 96 97 98 99 2000 01 02 03 04 05 06 07 08 09 10 11 2012

Gradual increase
Source: Ministry of Transport; 30 July 2013
More rapid increase
Decline in activity
! Freight transport by rail

is expected to increase
in the future due to
rising oil prices and
government policies to
shift logistics from road
to rail
| 63
Printed
! Poor track and an

ageing train fleet
make freight transport
by rail unreliable in the
last decade,
contributing to the
average annual decline
rate of 2.8% from 2004
to 2012
+4.9%
! Long-term positive
trend of annual 1.5%
growth in freight
transport via rail
DOC ID
Major commodities transported by rail include cement, fuel, crude oil and
LPG
Rail transport by major commodities
Crude Oil
LPG
Cargo
quantity per
year
1.9 million tons/year
1.4 million kiloliters/

year
1.3 million kiloliters/

year
550,000 kiloliters/year
Revenue
THB 246 million/year
Cargo per
train
700 tons per train, 9

trains per day
800 kiloliters (684 tons)

per train,10 trains per
day
1,204 kiloliters (840

tons) per train, 4 trains
per day
864 kiloliters (459 tons)

per train,1-2 trains per
day
Companies
! SCG Logistics
Management Co., Ltd.
! Siam City Cement
Public Company Ltd.
! TPI Polene Public
Company Ltd.
! Jalaprathan Cement
Public Company Ltd.
! Shell Thailand
! Thai Shell Company
Company Ltd.
! Exploration and
! Esso( Thailand) Public
Production Ltd.
Company Ltd.
! Caltex (Thailand)
Company Ltd.
! PTT Public Company
Ltd.
! PTT Public Company

Limited
Routes
! Baan Moh -- Bang

! Mae Nam station ,
! Mae Nam station ,
! North route: Bang
Sue, Pon Thong, Baan
Mabtapud -- Nakhon
Mabtapud -- Beung
lamoong -- Nakhon
Chong Tai and
Sawan, Beung Phra
Phra to Mae Nam and
Sawan, Lumpang
warehouse of
Pissanulok, Denchai,
Leam Chabang
station
companies in every
Lumpang, Chiengmai,
! North-East route:
regions.
U-bol rajathani,
Banglamoong
Khonkan, U-donthani
Sumran (Khonkaen)
Printed
Fuel
Cement
| 64
DOC ID
Table of Contents

1. General overview
3. Rolling stock
Printed

6. Expansion plans
| 65
DOC ID
There are mainly 3 challenges for the SRT
Management issues such as internal conflicts between

senior managers and bureaucratic red tape prevalent within
state enterprises have delayed development
Picture
SRT has struggled with financial losses for decades,

restricting its development and causing concern for
expansion projects in terms of funding
Picture
Printed
Picture
SRTs ageing fleet and poor track maintenance has given

rise to recent safety concerns and decreased reliability of
rail transport
| 66
DOC ID
1 SRTs fleet is increasingly ageing with more than 60% of tractive stock
over 30 years old
Age profile of SRTs tractive stock
(Number of locomotives and DMUs per age group)

Printed
15 years
or less
!
!
16-20
years
21-25
years
26-30
years
31-35
years
36-40
years
41-45
years
46-50
years
>50 years
No new procurement of locomotives in the last decade

More than 60% of locomotives are over 30 years old
| 67
DOC ID
1 Trailing stock ageing 110 years old are still active

Age range by type of trailing stock (in years)
Service cars
(Total 44 cars)
Freight cars
Age Range: 36-97 years
(Total 5,637 cars)

Passenger cars
Printed
(Total 1,216 cars)

0
10
20
30
40
50
60
70
Very large age range for all trailing stock types
No new procurement of service cars for at least 30 years
No new procurement of passenger cars in the last decade
80
90
100
110
120
| 68
DOC ID
1 In addition to SRTs ageing fleet, poor track maintenance is cited as

another major causes of various recent rail accidents
State railway struggles to stay on track
the frequency of trains jumping tracks has

risen sharply in recent months
second derailment on the same route in a

monthdue to the deteriorated condition of a
bend in the tracks
--Bangkok Post , 17 July 2013
Printed
The problem has been attributed to ageing

tracks and sleepers. Some 64% of the SRT's
4,043km of tracks are at least 38 years old,
and 31% of the sleepers are wooden
Seven out of ten train coaches derailedat

least 30 passengers were injured, one of them
seriously
--Bangkok Post, 16 September 2013
Source: Bangkok Post
Between the start of the year and Sept 13, 114

trains have derailed, or 11 every month on
average, compared with 89 derailments in the
whole of 2012.
Train derailment along the Northern line

injures 20 people
| 69
DOC ID
1 With increased work on track repairs in recent years, rail accident rates
has dropped substantially, but casualty numbers remain high
Reported incidents by rail
-50%
Number of reported incidents by rail

have dropped more than 50%
since year 2008
**This figure includes accidents by
collision of trains, derailment,
collision at crossing and others
2007
2008
2009
2010
2011
2012
Printed
Number of injuries and casualties

Injuries
Casualties
2007
2008
2009
Source: Ministry of Transport; Statistics
2010
2011
Consequently to the decrease in

reported incidents, the number of
injuries and casualties have
decreased by more than 34% and
41% respectively since 2008, but
are still on an unacceptably high
level
2012
| 70
DOC ID
2 Management issues have stunted the development of SRT
conflicts among senior management have persisted for a long time and are compounding the
state railway's administrative woes
Deputies were not cooperating with the governor, which led to certain key projects being stalled.
Some senior executives thought if they were productive, the governor would take the credit for their
achievements
Printed
[SRT governor Prapas Chongsanguan] admitted many tracks and trains were in bad shape and it
would cost about 70 billion baht to bring the tracks alone up to standard.
There is a limited budget to repair and maintain tracks, [Prapas] said, and bureaucratic red tape
was also holding back the execution of policies.
--Bangkok Post, 16 September 2013
| 71
DOC ID
3 SRT has been struggling with financial losses since 1987, generating
concern over its ability to manage future expansion projects
Impact on future expansion projects
Of the THB 2.0 trillion Infrastructure Investment

program, SRT will be responsible for handling
investment in the rail system of up to 71%
Only in the second quarter of this year, the

SRT suffered 1.55 billion baht operation loss,
while expenditures exceeding revenues of
over 3.68 billion baht in the second quarter this
year.
The National Institute of Development

Administration (NIDA) has questioned the
capability of SRT to implement mega highspeed train project due to large financial losses
for the past decade
Source: Thai PBS
Printed
Meanwhile its total debt also increases

gradually and by the second quarter of this
year, the total debt reaches 101 billion baht,
compared to 102.9 billion baht end of last
year.
--Thai PBS, 22 November 2013
its accumulated loss until the second

quarter of this year amounted to over 75 billion
baht now.
| 72
DOC ID
Table of Contents

1. General overview
3. Rolling stock
Printed

6. Expansion plans
| 73
DOC ID
Expansion Plans Overview
Infrastructure Expansion
Printed
Rolling Stock Expansion
| 74
DOC ID
As part of the THB 2.0 trillion Infrastructure Investment Program, two

major developments have been planned for Thailands national railway
Purpose
Currently only 7% of total
Double-track railways can
track length is composed

of double-track railways
By 2020, the proportion of
double-track railways is
expected to increase to
63%, across 3,215 km of
track
High Speed
Railway projects
routes have been planned

in Thailand
The high speed rail
networks will also connect
with neighboring countries
as part of the Trans-Asian
Railway
Significantly reduce travel
time by rail
Project to encourage a
modal shift from road to rail
transport for both
passenger and freight
traffic
Promote ASEAN
connectivity
| 75
Printed
Four high speed railway
increase the speed of

trains to 100-120 km per
hour, thereby increasing
frequency and reliability for
freight transportation
Double-Track Rail
Improvements
Description
DOC ID

Purpose

track
High Speed
Railway projects

in Thailand
The high speed rail
Railway
time by rail
transport for both
traffic
Promote ASEAN
connectivity
| 76
Printed

Double-Track Rail
Improvements
Description
DOC ID
Six projects have been planned for Double-Track Rail improvements

Key Objectives
! Double-track rails will increase the speed of

trains to 100-120 km/hour

! Increased speed allows for greater
frequency of trains, thereby increasing
passenger trips and cargo transport
Project Overview1
Printed
6 projects spanning 873 km

1.Chacheongsao Klong 19 Kaeng koi:
106 km
2.Lopburi Paknampo: 118 km
3.Mapkabow Jira Road: 132 km
4.Nakhon Pathom Nong Pla Dook Hua
Hin: 165 km
5.Jira Road Khon Khaen: 185 km
6.Prajuabkirikhan Chumporn: 167 km
Current Status: began since 2010, due to
finish in 2015
Source: Prachachat Newspaper
Source: 1Thairath Newspaper, 2Ministry of Transportation
| 77
DOC ID
Double-Track Rail improvement projects will increase the proportion of

double / triple track from 7% to 63% by 2020
Future outlook on rail infrastructure
(Track km)
Details on double-track rail improvement project2
Single Track
Double / Triple Track
3,755
3,215
7%
3,755 km
1,882 km
Double/Triple
track
280 km
3,215 km
Network
47 provinces
53 provinces
Trip
200 trips/day
>800 trips/day
Freight
11 million
tons/year
>50 million tons/year
Passenger
45 million
passengerstrips/year
>75 million
passengers-trips/
year
Freight speed
39 km/hour
100-120 km/hour
Passenger
train speed
60 km/hour
100-120 km/hour
63%
280
Present
Single Track
Printed
93%
37%
By 2020
By 2020
Source: 1Thairath Newspaper, 2Ministry of Transportation
1,882
Present
| 78
DOC ID

Purpose

track
High Speed
Railway projects

in Thailand
The high speed rail
Railway
time by rail
transport for both
traffic
Promote ASEAN
connectivity
| 79
Printed

Double-Track Rail
Improvements
Description
DOC ID
Four routes have been planned for the domestic high speed rail network
Overview
Four routes with Bangkok as the main terminal:

1. BangkokPitsanulokChiangmai (745 km, THB 388
bn)
2. BangkokPattayaRayong (221 km, THB 101 bn)
3. BangkokKoratNong Kai (615 km, THB 170 bn)
4. BangkokHua HinPadang Besar (982 km, THB 124
bn)
Printed
Current status: Conducting feasibility study on routes,

environmental and health impact assessment
In year 2017, estimate of 153,000 rides per day
Total planned spend: THB 783 billion
Future outlook: To connect ASEAN with China
Technical Aspect:
Train speed of approximately 250 km/hour

Track-work: UIC60 Standard Gauge (1,435 mm)
Power supply: 25kV 50/60 Hz Overhead Catenary
System (OCS)
Source: SEPO Presentation: High Speed Rail System in Thailand, Thairath Newspaper
| 80
DOC ID
Route 1 of the High Speed Rail network will connect Bangkok to

Chiangmai
Expansion Route 1: Bangkok Chiangmai

Length: 754 km
Route: 11 provinces
Travel Time: 3.5 hours
Fare: 1,200 THB
Printed
Phase 1: Bangkok Pitsanulok

Length: 382 km
Investment: THB 111.6 billion
Current status: Begin construction in 2013
Expected completion: 2019
Phase 2: Pitsanulok Chiangmai
Length: 363 km
Current Status: Begin Construction in 2021
Source: SEPO Presentation: High Speed Rail System in Thailand
| 81
DOC ID
Route 2 of the High Speed Rail network will connect Bangkok to Rayong
Expansion Route 2: Bangkok Rayong

Length: 221 km
Route: 4 provinces, 5 stations
Travel Time: 1.25 hour
Fare: 350 THB
Source: SEPO Presentation: High Speed Rail System in Thailand
Printed
Phase 1: BangkokRayong
Length: 382 km
Current Status: Hired consulting firm to
conduct feasibility study
| 82
DOC ID
Route 3 of the High Speed Rail network will connect Bangkok to Nongkai
Expansion Route 3: Bangkok Nongkai

Length: 615 km
Route: 10 stations
Phase 1: Bangkok--Ayuthaya
Length: 84 km
Same route as the beginning of the Bangkok
Chiangmai route
Phase 2: AyuthayaNakorn Ratchasima (Korat)
Length: 168 km
Printed
Phase 3: SaraburiNakorn Ratchasima

Length: 100 km
Phase 4: Nakorn RatchasimaNongkai
Length: 356 km
Current status: OTP conducting feasibility study for
phase 1, 2,3 (30 November 201229 January 2014)
with expected completion in 2019
Source: Thai High Speed Train Website, OTP, SRT; Web research
| 83
DOC ID
Route 4 of the High Speed Rail network will connect Bangkok to Padang
Besar (1/2)
Expansion Route 4: Bangkok Padang

Besar
Length: 982 km
Phase 1: BangkokHua Hin
Length: 225 km
Expected cost: THB 82 billion
Phase 2: Hua HinPadang Besar
Length: 800 km
Printed
Current status: OTP conducting study of the

most appropriate routes for phase 1 (30
November 201229 January 2014), with
expected completion: 2019
| 84
DOC ID
Route 4 of the High Speed Rail network will connect Bangkok to Padang
Besar (2/2)
Current Status:
OTP is currently conducting study for the most
appropriate route for the BangkokHua Hin
phase
Printed
Latest Development:
From BangkokRatchaburi, alternative 1
have been chosen as the best route
Use the Southern Line through Nakhon
Pathom (225 km)
For the route passing Petchburi, alternative 5
has been chosen as the best route:
Passing Petchkasem Road for 4.5 km
| 85
DOC ID
Thailand will be the first ASEAN country to have high speed trains
The [2.0 trillion baht] investmentwould help reduce logistics costs by up to 13.2%, [Mr. Chadchat]
said. Currently, logistics costs make up about 15.2% of gross domestic product, compared to 8.3%
in the United States.
(Bangkok Post, 23 Jan 2013)
The government's own consultants did a study that bravely showed the line would earn a rate of return
of 10.7 per cent, significantly below the ministry's 12-per-cent minimum. Former Bank of Thailand
governor MR Pridyathorn Devakula quoted a study showing that fares on some routes would have to
exceed plane fares to be financially feasible.
(The Nation, 4 Sept 2013)
Source: Bangkok Post, The Nation
| 86
Printed
In 2020, Thailand would be the first country in ASEAN to have high-speed trains, he said, which should
remind the general public of the pride a century ago when Thailands train service was the most
advanced in Asia.
(The Nation, 8 Aug 2013)
Mr Chadchat insisted the high-speed train project could yield high returns, despite some academics'
claims it would be uneconomic. The construction of high-speed rail routes stretching 1,400km would
cost 780 billion baht, compared with the cost of building just 200km of electric train routes in Bangkok
which would come to 400 billion baht.
(Bangkok Post, 30 Jul 2013)
DOC ID
Thailand is one of the participating nations of the Trans-Asian Railway

Trans-Asian Railway Network (TARN)
!
!
!
!
Source: 2013 UNESCAP
A southern corridor connecting Thailand and the

southern Chinese province of Yunnan (Kunming) with
Turkey through Myanmar, Bangladesh, India,
Pakistan and the Islamic Republic of Iran with Sri
Lanka also part of the corridor. The corridor ends in
Kapikule in Bulgaria.
The length of the route between Bangkok and
Kapikule is 11,460 km
Nongkai-Bangkok railway project is part of the
Trans-Asia Railway.
| 87
Printed
Thailand & Southern Corridor
A project of the United Nations Economic and Social

Commission for Asia and the Pacific (UNESCAP)
initiated in 1960s
To provide a continuous 14,000-km rail link between
Singapore and Istanbul (Turkey), with possible
onward connections to Europe and Africa.
Four major components which were studied
separately; namely a northern corridor, a southern
corridor, a sub regional network covering the ASEAN
and Indo-China sub regions, and a North-South
corridor
DOC ID
Singapore Kunming Rail Link (SKRL) is a High Speed Railway that will
become a part of the Trans-Asian Railway
Technical Details
! West Line: Kunming to Yangon
! Mid-East Line: Nanning to Vientiane
! Mid Line: Dali to Bangkok

! East Line: Kunming to Singapore
! Terminal stations on eastern, middle and western
lines are international ports (Ho Chi Minh and
Singapore on the eastern line, Bangkok on the
middle line, and Yangon on the western line)
Printed
! Thailand has initiated plans to build a high-speed rail

project between Bangkok and the southern border in
Songkhla Province to connect to the SingaporeMalaysia high-speed rail project.
SKRL Routes
! Track Length: 3,900 km
! Track Gauge: 1,435 mm standard gauge
! Electrification: Overhead catenary
Source: Singapore-Thai Chamber of Commerce
| 88
DOC ID
Expansion Plans Overview
Infrastructure Expansion
Printed
Rolling Stock Expansion
| 89
DOC ID
SRT is currently expanding its rolling stock, with significant investments

still in the pipeline
Current Fleet
Number of cars
Locomotives
258
Trailing Stock
7,133
Manufacturer
GEA, HID, ADD, ALD, AHK, ALS, GE, KP, HE, HU, HAS
Type
On Order fleet
Number of cars
Scheduled arrival
Supplier
Cost
Locomotives: Freight
20
Aug 2014
Feb 2015
CSR Qishuyan Co., Ltd

(China)
USD 61.3 million
Type
Number of cars
Status
Budget
Locomotives: Passengers
50
Open for bids (until September 2013)
THB 6.6 billion

(USD 219 million)
Locomotives: Passengers
Preparing to propose to MOT
Freight carriage
308
Investigation in bidding process: suspect 2 out

of 12 companies colluding
Printed
Type
Future expansion
Source: Matichon Newspaper, 3 July 2013
| 90
DOC ID
Contents
National Railway
Urban Transport
Printed
Bangkok Mass Transit System Company Limited

(BTSC)
Bangkok Metro Public Company Ltd (BMCL)

SRT Electrified Train (SRTET)
Urban Transport Expansion Plan
| 91
URBAN TRANSPORT BANGKOK
DOC ID
Bangkok is Thailands capital city with over 10 million habitants

Key Facts
5,673,560 (10.5 million for

entire Bangkok metropolitan)
Density :
3,616 people per square km
Area :
1,569 square km
Administration:
Bangkok Metropolitan
Administration
GDP (2011):
THB 3,331,225 million
% GDP to total:
Approximately 30%
Financial center of Thailand with approximate one
third of Thailands banks
Population (2012):
Source: National Statistical Office, Ministry of Transport
Highly dominated road transportation, with average road

speed of 16.3 km/hour during morning rush hour
Private cars account for approximately 57% in Bangkok
metropolitan area in 2011
Busses remain the most popular form of public transport
with 88% of total passenger volume in 2011
Other means of public transport in Bangkok and vicinities
include electric trains (BTS and MRT), boats and vans
Plans to expand urban rail systems to reach the
greater Bangkok metropolitan area
| 92
Printed
Transportation Overview
DOC ID
Bangkoks demand for rail transit is driven by the congestion of roads

Map of average road speed in Bangkok1
Bangkok Total Registered Cars and Private Registered

Cars in Bangkok (2007-2012 ) 2
(In million cars)
Non-Private Registered Cars
Private Registered Cars
5.72
5.91
6.10
6.44
7.54
6.85
+32%
+37%
+6%
Printed
2007
! Road-based transit dominates transportation in Bangkok,
leading to mass traffic congestions with the average road
speed of only 16.3 km/hour during morning rush hour, and
23.5km/hour during evening rush hour in inner Bangkok.
! Bangkok has been suffering from some of the most severe
road-based traffic congestion in the world.
2008
2009
2010
2011
2012
! The governments scheme to waive the 17% tax (for

first-time car buyers from 1 Oct 2011 to 31 Dec 2013,
for domestically assembled cars smaller then 1,500 cc
led to a significant increase in number of cars
registered in Bangkok.
! Despite traffic congestion, new vehicle registration
continues to increase suggesting a heavy dependency
on personal cars.
Source:1Ministry of Transport, 2Office of Transport and Traffic Policy and Planning Statistic 2012
| 93
DOC ID
Mass transit rail market share is forecasted to grow, taking over the market
share of bus transit as rail demand rises
Bangkoks Mass Transit Market Share (forecast 2017 - 2037)
! Mass transit rail
system in Bangkok is
still immature.
2022E
2027E
43.3%
2032E
2037E
+732.7%
19.2%
5.2%
5.5%
5.8%
2009
2010
2011
2017E
Others
Bus market share
Ferry market share
Mass transit rail market share
! The OTP forecasts that

mass transit rail market
share will progressively
take the market share of
bus transit as the
demand for mass transit
rails in Bangkok
increases in the next
few years.
Source: Transport data and model integrated with multimodel transport and logistics
(TDMLII) of Office of Transport and Traffic Policy and Planning (OTP)
Source: BTS Annual Report 2012/13, OTP
| 94
Printed
31.4%
34.8%
42.4%
! Since the inception of

BTS Skytrain (the first
mass transit rail system
in Bangkok in December
1999, mass transit rail
usage in Bangkok has
seen a gradual rise in
2011, accounting for
5.8% of total mass
transit usage in
Bangkok.
DOC ID
Three railway operators are participating in Bangkoks urban transport

system
Bangkok Mass Transit System Co. Ltd (BTSC)
(BTS Skytrain System)
Number of lines: 2
Track length: 36.75km
Routes:
Sukhumvit Line (connecting Mo Chit in the North
with Bearing in the East of Bangkok)
Silom Line (connecting National Stadium in the
Center with Bang Wa in the South-West of
Bangkok
Bangkok Metro Public Co. Ltd (BMCL)

(MRT Underground Train System)
Number of lines: 1
Track length: 20km
Routes:
Blue Line (connecting Hua Lampong Main Railway
Station in the Center with Bang Sue Railway
station in the North of Bangkok)
SRT Electrified Trains (SRTET)

(Suvarnabhumi Airport Rail Link)
Source: Ministry of Transport
Number of lines: 1 (with 3 different services)

Track length: 28.6km
Routes:
Airport Rail Link (connecting Phayathai BTS station
in the Center with Suvarnabhumi Airport in the East
of Bangkok)
| 95
Printed
DOC ID
Contents
National Railway
Urban Transport
Printed
Bangkok Mass Transit System Company

Limited (BTSC)

| 96
BANGKOK MASS TRANSIT SYSTEM COMPANY LIMITED (BTSC)
DOC ID
Table of Contents

(BTSC)
1. General overview
3. Rolling stock
Printed

| 97
DOC ID
Company Profile: Bangkok Mass Transit System Company Limited (BTSC)

Company Description
Privately owned company with Mr. Keeree Kanjanapas as main investor
Company is linked to Thanayong PCL (listed on the Thai Stock Exchange), a major property developer and hospitality operator in Thailand (Chairman: Mr. Keeree Kanjanapas)
Logo
Rolling stock
Operating trains from 2 suppliers:
Siemens: 35 units, 3-car trains
CNR: 12 units, 4-car trains
Maintenance depot located at Mo Chit Station
(former Northern Bus Terminal)
Mass Transit Revenues (in THB million)
3,321 3,288
Mr. Keeree
Kanjanapas
42% Group
6,016
5,032
Others 47%
3,680 3,681
Printed
+13%
Track data
Two routes:
(1) Sukhumvit Line (North-bound / East-bound)
(2) Silom Line (West-bound / South-bound)
3%
2% 6%
2008
2009
2010
2011
2012
* BTSC financial year (FY 2013) ended in March 2013

Source: BTS Annual Report 2012/13
2013*
Bangkok
Bank PCL
Thai NVDR
Co., Ltd. Goldman
Sachs & Co.
| 98
DOC ID
Organization Chart of BTS Group

Board of directors
Nomination and Remuneration

Committee
Corporate Governance
Committee
Company Secretary Office
Audit Committee
Internal Audit Office
Executive Committee
Executive Chairman
Mr. Keeree Kanjanapas
Executive Director
(Property)
Executive Director
(Media)
Chief Financial Officer

Mr. Surayut Thavikulwat
Accounting
Mrs. Duangkamol
Chaichanakajorn
Finance
Mr. Daniel Ross
Investor
Relations
Executive Director
(Services)
Executive Director
(Business
Development)
Chief Operating Officer

Mr. Rangsin Kritalug
Legal
Ms.Chayada
Yodyingtammakul
Corporate Communications
Mrs. Patchaneeya Pootme
Human
Resources and
Administration
Information
Technology
CSR
| 99
Printed
Executive Director
(Mass Transit)
DOC ID
Table of Contents

(BTSC)
1. General overview
3. Rolling stock
Printed

| 100
DOC ID
BTSs total rail network covers 36.75 km of track

Sukhumvit Line (Light Green Line)

From Mo Chit (Northern Bus Terminal) to Bearing
(Bang Na District)
Total of 22 stations
Operating from 06:00 00:00 daily (18 hours)
Connection frequency: Every 3-5 minutes on
weekdays
Travel duration: ~ 40 minutes
Printed
Silom Line (Dark Green Line)

From National Stadium to Bang Wa (Thonburi
Side)
Total of 13 stations
Operating from 06:00 00:00 daily (18 hours)
Connection frequency: Every 3-5 minutes on
weekdays
Travel duration: ~ 23 minutes
Both lines connect at Siam Station
Connection to MRT at Sala Daeng and Asoke
stations
Source: BTS Group Website
| 101
DOC ID
Table of Contents

(BTSC)
1. General overview
3. Rolling stock
Printed

| 102
DOC ID
BTS currently operates trains from 2 different suppliers
| 103
Printed
Source: BTS Group website
Siemens Modular Metro

Technical Details (Total 35 trains)
Train configuration
A-C-A
Carbody material
Stainless steel
Power supply
750 Vdc/Third
Rail
Length x Width
65.30 x 3.20 m
Passenger doors
12 (1.4 m)
Train capacity 8 pers./m^2
1,106
Per car capacity
368
Number of seats per car
42
Number of seats per train
126
Track gauge
1,435 mm
Bombardier Movia: CNR Model (Changchun

Railway Vehicles Co. Ltd)
Train configuration
Tc+M+(M+M)
+Tc
Carbody material
Stainless steel +
aluminum
Power supply
750 Vdc/Third
rail
Length x Width
87.25 x 3.12 m
Passenger doors
32 (1.40 m)
Train capacity 8 pers./m^2
1,1490
Tc-car capacity
361
M-car capacity
384
Number of seats per car
42
Number of seats per train
168
Number of air conditioning
8
Track gauge
1,435 mm
Other
Dynamic route
map
DOC ID
BTSC plans to double current fleet capacity by 2032

Total Carriages Capacity Increase
(cumulative)
x35
105
x12
48
x47
153
+22.9%
x5
20
+35.9%
x52
208
x7
28
+54.3%
70
+100%
x61
Source: BTS Group General Presentation, March 2013
Printed
35
No. of Trains
306
| 104
DOC ID
Table of Contents

(BTSC)
1. General overview
3. Rolling stock
Printed

| 105
DOC ID
Average ridership grew by 17% annually from 2010-2012

Total ridership per year
(In million passengers)
197.2
+17%
176.0
+48%
+3%
132.9
145.2
135.9
2007
2008
2009
Gradual increase
Source: BTS Group Website
2010
2011
Rapid increase
2012
! Ridership growth are

resilient against external
conditions such as the
political unrest in 2010
and flooding in 2011
! Expects 7-10% growth
in 2013
| 106
Printed
144.5
! Five new stations on the

Sukhumvit line has led
to an increase in the
number of passengers
by about 40,000-50,000
people from the
previous total of 600,000
daily passengers.
! An increase in ridership
was largely due to
service lines
extensions: Silom line
extension from May
2009 (Saphan TaksinWongwian Yai, 2.2 km),
and Sukhumvit line
extension from August
2011 (On Nut- Bearing,
5.3km)
Bangkok Mass Transit System Company Limited (BTSC)
DOC ID
Table of Contents

(BTSC)
1. General overview
3. Rolling stock
Printed

| 107
DOC ID
BTSC faces several challenges relating to 4 key risks

Description
Strategic Risk
! BTSC is exposed to the increase of operating costs such as a changes in

the price of raw materials, increase in salary costs, rising energy / electricity
price and cost of spare parts, all of which may impact operating profit margin.
! BTSC has made insurance against business interruption risks which may be
the result of political turmoil, acts of terrorism, or natural disasters.
Financial Risk
Compliance Risk
The management team closely monitors liquidity risk, credit risk, interest rate
risk, and foreign exchange rate risk.
As of 31 March 2013, BTS Groups interest coverage ratio and net debt to
equity ratio were 4.23 times and 0.17 times respectively, illustrating the
Groups strength in meeting its debt obligations.
! The mass transit revenues rely mainly on the concession agreement and the
30-year operating and maintenance (O&M) agreement. The extension of the
concession agreement, which expires in December 2029, is subject to the
consent of BMA. Any termination of the concession agreement or 30-year
O&M agreement or failure to extend the concession agreement may have a
material impact to future cash flows.
| 108
Printed
Operational Risk
! Earning performance depends on domestic demand and the Thai

economy. Historical performance of the mass transit business shows
evidence of recession resilience with revenue increasing every year.
Mass transit business growth significantly relies on the governments ability
to execute its mass transit rail expansion plan as well as the development
of other alternative mass transit systems.
DOC ID
The number of passengers outweighs BTS capacity during rush hours
Its really crowded in the morning. I have to wait for

at least two trains before I can get on. The first one is
really full, then some dont even stop at my station.
They just pass us to pick up people at On Nut station
directly. That means I have to wait 20 minutes! Ive
also had to wait at the turnstiles sometimes, because
the BTS officer tells me that the platform is too
crowded , Ubonwan Kerdtongtawee, 22, student
Surapong Laoha-Unya, Chief Operating Officer of
the Bangkok Mass Transit System, answers
Printed
The solution:
! Change from 3 to 4-carriages trains to all 35
Sukhumvit-line trains.
! Increase time efficiency for each trains
! Increase the number of officers on hand to maintain
order during rush hours
! Keep 2 spare trains for each line incase one breaks
down or the line is too crowned
--Asia City Online, October 2011
Source: Asia City Online
| 109
DOC ID
BTS service disrupted by technical error

A control system problem temporarily knocked
Bangkok's crowded BTS system out of operation, but
as of 11:00am it has reopened operations, shut again,
and resumed again
The testing of a new platform screen door caused

an eight-hour failure of the BTS skytrain system
that caused commuter chaos in Bangkok on Tuesday
morning.
The test triggered a malfunction of the signals
communication system, which controls the trains,
leading to a total shutdown
Printed
The problem caused the cancellation of all services

from 6am, when trains normally begin running.
Bombardier Transportation Singals (Thailand) Co,
which handles the service, was called into the fix the
problem and full services resumed five hours late at
11am
--Bangkok Post, December 2013
| 110
DOC ID
Contents
National Railway
Urban Transport
Printed

(BTSC)

| 111
BANGKOK METRO PUBLIC COMPANY LTD (BMCL)
DOC ID
Table of Contents

1. General overview
3. Rolling stock
Printed

| 112
DOC ID
Company Profile: Bangkok Metro Public Company Ltd.

Description
Operator of the MRT, Bangkoks first underground rail system since July 3, 2004
BMCL is currently under a concession agreement with MRTA and currently operates one
line from Hua Lamphong main railway station to the North of Bangkok
Logo
Rolling stock
Siemens Modular Metro, 750V DC
19 units in service, each consisting of 3 cars
Maintenance Depot with total of 395 acres (118
acres used, the rest reserved for future expansion), located near Thailand Cultural Center
Total Revenues1 (in THB million)
+9.5%
1,446
2007
1,579
1,687 1,750
30.9%
Hicrete
Products &
Technology
Co. Ltd.
2008
2009
2010
MRTA
Others
1,903
2011
2012
Printed
2,281
8.1%
11.4%
25.0%
24.6%
CH.
Karnchang
PCL
Bangkok Expressway PCL
1 Total Revenue includes Farebox, Commercial Development and Other Income from Subsidiary
Source: BMCL Website
Track data
Track length: 20 km
Track gauge: 1,435 mm, with bottom pick-up third
rail
One route from Hua Lamphong Railway station
to Bang Sue Station
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DOC ID
BMCLs revenue is fueled by the collection of fares on its MRT system

Fare Box and Commercial Development1 Revenue Contribution
(In THB million)
Commercial Development
Fare Box Revenue
2,270
+13.7%
+9.8%
1,900
1,715
1,575
1,979
1,423
1,270
1,375
1,477
1,525
2007
2008
2009
2010
1,646
2011
2012
+9.3%
1 Commercial Development revenues consist of: (1) Company directly executed agreements with other companies by granting following rights: ATM
service, public telephone, True Kiosk, advertising banners on hand grip media; and (2) Company granted following rights to Subsidiary: platform
billboard, PIDs, retail space
Source: BMCL Annual Reports
| 114
Printed
1,668
CAGR
! Most of BMCL
revenue comes from
the collection of
MRT fares, while
some comes from
commercial
development
! Commercial
development
revenues have had
strong growth in
recent years of
13.72% from 2007
! Fare box revenues
also continues to
grow at an average
annual growth rate
of 9.28% since 2007
DOC ID
Organization Chart of BMCL

Board of directors
Nomination and
Remuneration
Committee
Executive Committee
Audit Committee
Safety and Quality

Department
President
Internal Audit Office
Risk Management
Committee
Finance Group
Marketing Group
Management Group
Train Operations
Division
Accounting and
Finance Division
Marketing and
Services
Development
Division
Administration and
Information Technology
Division
Engineering and
Maintenance
Division
Business
Development Division
Public Relations and

Corporate Affairs
Division
Office of the President
Project
Management
Division
Source: BMCL Annual Report 2012
Printed
Operations Group
Office of the Human

Resources
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Table of Contents

1. General overview
3. Rolling stock
Printed

| 116
DOC ID
MRTs total rail network covers 20 km of track on one single line

Track length: 20 km, one single line (Blue Line), 18 stations

Connecting Hua Lamphong Main Railway Station with Bang Sue (Northern Bangkok) Railway Station,
passing through the Central Business District: Rama IV Rd., Ratchadaphisek Rd., Lad Phrao Rd.
Connection frequency: Approximately every 5 minutes
Travel duration: Approximately 40 minutes to complete
Printed
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Table of Contents

1. General overview
3. Rolling stock
Printed

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MRT currently operates 19 units of Siemens Modular Metro rolling stock

Siemens Modular Metro
Printed
MC+T+MC
Bo'Bo'+2'2'+Bo'Bo'
Stainless steel
1,435 mm
65,100 mm
3,120 mm
1,160 mm
850 / 775 mm
107 t / 175 t
15.4 t
126
1,139
2x4
190 m
5%
80 km/h
1.3 m/s2
0.9 m/s2
750 V DC / Third rail
Technical Details
Train configuration
Wheel arrangement
Car body material
Track gauge
Length over couplers
Width of car
Floor height above top of rail
Wheel diameter new / worn
Tare weight / total weight (8 p/m2)
Max. axle load
Number of seats
Train capacity 8 pers./m2
Passenger doors per car
Min. curve radius, service line
Max. gradient
Max. speed (operational)
Max. starting acceleration
Mean deceleration service brake
Power supply
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Table of Contents

1. General overview
3. Rolling stock
Printed

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MRT ridership grew significantly between year 2011-2012

80.6
+6.1%
+16.6%
62.2
64.9
60.0
2007
2008
2009
Gradual increase
2010
2011
2012
Rapid increase
! Ridership growth is
resilient against
external conditions
such as the political
unrest in 2010 and the
major Bangkok flooding
in 2011
| 121
Printed
! Significant increase in
ridership from year
2011 to 2012 may be
due to growing real
estate development
along the route as well
as increase in oil price
69.1
63.7
! Over 2011-12, ridership

rose rapidly by 16.6%.
! Passenger ridership
has been increasing
steadily at an average
annual growth rate of
6.1% from 2007 12
DOC ID
Table of Contents

1. General overview
3. Rolling stock
Printed

| 122
DOC ID
BMCL faces several challenges relating to 3 key risks

Description
Strategic Risk
Financial Risk
Source: BMCL Annual Report 2012; Web research
As of 31 December 2012, BMCL had long term loans totaling THB

13,602.50 million. The company is therefore facing interest rate risks.
BMCL also incurred expenses in foreign currencies for the maintenance
cost of the M&E Equipment, in an average amount of approximately EUR
2.5 million per year.
| 123
Printed
! Fare revenue is the highest contribution to BMCLs total revenue (87%).

Growth in passenger volumes is dependent on external factors such as
substitutes, oil prices, and real estate development along the routes.
! Increase in fare rates to boost operational revenues must comply with the
Concession Agreement, which can only be made every two years
! BMCL has made insurance against terrorism
! BMCL also has strong safety and security measures in place to protect
against emergencies and natural disasters such as flooding
Operational Risk
! Company operates its businesses in accordance with the Concession

Agreement under the supervision of the MRTA, differences in the
contractual parties interpretations on terms and conditions of the
Concession Agreement may arise
! BMCLs network expansion plans dependent on government policies,
which may change or be delayed under the current political climate
DOC ID
A key challenge for the extension of MRT lines is the local resistance
against the expropriation of land, delaying construction progress
Call for conservation of Chinatown
For the new Purple Line subway, for

example, The Mass Rapid Transit Authority
of Thailand (MRTA) still needs secure
another 1,052 pieces of land and 640
households even though the project is
already 18 percent complete.
According to the plans for the extension of

the MRT's blue line, more shophouses will
be torn down soon to pave the way for a
property development scheme.
MRTA deputy governor Ronnarit Yaemsaard, in his capacity as acting MRTA

governor, said the agency had paid out 8.1
billion baht in land expropriation costs, out
of a total put aside of 9.2 billion baht.
--Bangkok Post, 7 February 2011
With the distinctive architecture, unique

businesses and traditions as well as the
area's ethnic diversity, residents argue that
the community is part of the cultural
fabric of the city
Printed
The problem is that many business

operators along the route, running from
Bang Yai to Bang Sue, are refusing to
make way.
Upping the Offer
With support from academics and other

conservation groups, the group submitted a
petition to the BMA to designate the area a
conservation zoneBMA responded
negatively to the request
--Bangkok Post, 16 December 2012
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DOC ID
Rail line expansions needed for BMCL to profit

Operating Performance1
For the year ended 31 December
(In THB million)
Total Revenue
Total Expense
Net Profit(Loss)
BMCL has been in operation for 8

years, but continues to incur net loss
Printed
Following the opening of the MRT purple line,

by 2016, total passengers from 2 MRT lines
will increase to 400,000 passengers/day,
prompting BMCL to breakeven.
Within 6 years, it is expected that BMCL
would be able to recover all accumulated
loss of THB 11,619.69 million.
--Manager Online, 29 November 2012
(Translated from Thai)
2010
2011
Source: 1BMCL Annual Report 2012, Manager Online
2012
BMCL management team explained that the

governments delay in rail construction has led
to unmet ridership targets. The operation of a
new purple line (Bang Yai-Bang Sue) will
help the business to finally make profits.
| 125
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Contents
National Railway
Urban Transport
Printed

(BTSC)

| 126
SRT ELECTRIFIED TRAIN (SRTET)
DOC ID
Table of Contents

1. General overview
3. Rolling stock
Printed

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DOC ID
Company Profile: State Railway of Thailand Electrified Train (SRTET)

Company Description
SRTET is a subsidiary of SRT and operates the Airport Rail Link (ARL)
Operating since 23 August 2010, ARL connects Suvarnabhumi Airport to central Bangkok
(Phayathai, Makkasan), and has plans to extend to Don Mueng airport
Rolling stock
Siemens Desiro class 360/2
City line: 5 three-car trains
Express lines: 4 four-car trains
Total: 9 trains
Revenues
Track data
3 lines: (1) City line, (2) Makkasan Express line
and (3) Phayathai Express line
Elevated train system
Logo
Printed
t
o
n
n
o
i
t
a
m
r

o
e
l
b
Inf
la
i
a
v
a
Source: SRTET Website
SRT
100%
| 128
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Table of Contents

1. General overview
3. Rolling stock
Printed

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DOC ID
With a track length of 28.6 km, the ARL runs on 3 lines, connecting the city
center to Suvarnabhumi Airport
City Line
8 stations
Duration: 30 minutes
Frequency: Every 15-20 minutes
Printed
Makkasan Express Line

Non-stop from Makkasan Station
Frequency: Every 40 minutes
Phayathai Express Line
Non-stop from Phayathai Station
Frequency: Every 30 minutes
Began full commercial operations on

August 23, 2010
Track length: 28.6 km, 3 lines
| 130
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Table of Contents

1. General overview
3. Rolling stock
Printed

| 131
DOC ID
SRTET operates a total of 9 trains for the ARL

Siemens: Desiro Class 360/2
: 5 three-car trains
: 4 four-car trains (1 for baggage)
: 25 kv AC
: 20 m x 2.8 m
: 745 passengers
: 170 seats
: 1,435 mm (standard gauge)

Train configuration (City Service)
Train configuration (Express)
Power supply
Length x Width
Train capacity per car (City Service)
Train capacity per car (Express)
Track gauge
Printed
| 132
DOC ID
SRTET plans to expand its fleet to increase ridership capacity

Current Fleet
Number of trains
Manufacturer
Electric train
9 trains
! 5 three-car trains
! 4 four-car trains
Siemens
Number of trains
Status
Budget
7 four-car trains
Bidding to procure cars used

in City Line is expected to
begin in January 2014
THB 4.8 billion
Type
Future expansion
Type
Electric train
Printed
! Currently, there are 5 three-car trains running on the City Line.

! Additional 7 four-car trains will be added to the fleet to service the City Line.
! Additional plans for rolling stock expansion:
Change from three-car trains to four-car trains to increase ridership capacity from 700-800
to 1,000 passengers per trip
New trains are required to have greater width than old model by 5 centimeters, and the
depth of train walls will be lessened to increase interior space.
The passenger door system will be changed to electric system to reduce noises.
Source: Breaking News, Dec 2013
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Table of Contents

1. General overview
3. Rolling stock
Printed

| 134
DOC ID
ARL ridership is expected to increase in the future, mainly from rising

popularity of the City Line
2011
2012
*Begin operations on 23 August 2010

**Data up to June 2013, extrapolated to full year
Source: OTP Statistics
2013**
| 135
Printed
2010*
+20.2%
! Passenger ridership
increased by 20.2% over
2011-12. The trend is
expected to continue in the
future.
! In 2012, the trains carry
50,000 passengers a day,
most of them on the City
Line (48,000 passengers a
day for City line, and 2,000
passengers a day for
Express lines)
! The number of passengers
on the City Line is expected
to increase, and SRTET
plans to acquire 7 more
trains to respond to rising
demand.
! However, Express lines
ridership is still lower than
target because it was
inconvenient to use.
DOC ID
Table of Contents

1. General overview
3. Rolling stock
Printed

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DOC ID
There are 4 main challenges for the SRTET
ARL is slow to breakeven despite efforts to increase

ridership, discouraging further investment
Picture
Corruption fears on top of the current unprofitable

operations also deter investment and increase public
scrutiny of high-investment mega-projects
Picture
ARL has faced numerous complaints over its low service

quality, which may have contributed to the below-target
passenger numbers and unprofitable operations
Picture
Printed
Picture
Technical problems halting train services has deteriorated

ARL reputation
| 137
DOC ID
1 Technical problems caused Airport Rail Link service to halt

Track problem halts Airport Link
The Airport Rail Link city-inbound service

was halted for about an hour during
Monday mornings rush hours due to an
unspecified technical problem with the
track, making many commuters late for
work.
Printed
SRT Electrified Train Co. operator of the

Airport Rail Link, said a problem occurred
at Hua Mark station around 8.30am, and
the service was suspend to ensure the
safety of passengers.
--Bangkok Post, 6 January 2014
| 138
DOC ID
2 Airport Rail Link operation is slow to break even

Airport Link revenue breaks even for the first time
According to the Transport Ministry, the Airport Rail Link operator broke even
for the first time during the last quarter after suffering revenue losses since the
start of the train operation
SRT Electrified Train Co Ltd (SRTET) has reportedly hit the 500-million-baht annual
revenue mark, recording 50,000 passengers per day, or 115 percent of total
passenger capacity. The operator expects the rail service to reap profits during
the next 4-5 years.
Printed
SRTET earlier stated that despite the implementation of the 20-baht flat fare
promotion in 2012, their revenue continued to drop and had previously
sustained a monthly loss of 1.8 million baht.
The ministry made known that the SRTET is also set to borrow 420 million baht to
boost the agencys liquidity. The State Railway of Thailand will work on the master
plan to oversee methods to pay back the loans
--National News Bureau of Thailand, 19 April 2013
Source: National News Bureau of Thailand
| 139
DOC ID
3 Allegations of corruption have increased public scrutiny for costly

mega-projects
Rail link sparks corruption fears

Concerns are growing that the company to be set up by the State Railway of
Thailand to operate the Airport Rail Link system could become a new cash
cow for politicians, a Transport Ministry source said
Printed
"The golden goose is not the rail link operation but the Makkasan main
passenger terminal, as the subsidiary will have to manage the commercial
space there for leasing and advertising," the source said
--The Nation, 7 May 2009
Source: The Nation
| 140
DOC ID
4 There are many criticisms over Airport Rail Links service quality
Officials have been bombarded with many complaints.
The terminals at the stations are badly signposted
There are neither escalators nor trolleys for passengers with heavy bags to use.
The lack of a car park and facilities linking the stations to public transport.
The rail link project between central Bangkok and Suvarnabhumi Airport is overpriced, with
passengers paying up to 150 baht (currently, the price is reduced to 90 baht)
! A lack of spare parts has been a recurring problem, worsened by unusual wear to some key
components. Carbon brushes, for example an essential component in the brakes of the
electric-powered train were supposed to last six months, but failed after only three days of
use.
!
!
!
!
Printed
The 28-kilometre Airport Rail Link between central Bangkok and Suvarnabhumi Airport has
been plagued with these problems after less than one year of trials and service
the rail link service has not been popular with passengers. There are only about 700 rail
link passengers a day, well below the target of 2,200, although the City Line for commuters still
can attract between 36,000 to 40,000 a day.
the service is losing about 42 million baht a month
--Bangkok Post, 18 April 2011
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DOC ID
4 SRTET needs to improve its services to attract more passengers
However, the Bangkok trains carry only

50,000 passengers a day, most of them on the
City Line, compared with about 150,000
travelers going through the airport every
day.
--Bangkok Post, 1 June 2013
Source: Bangkok Post, The Nation
the big problem with the Airport Rail Link was

that it was inconvenient to use. There is no
direct connection with the MRT subway or BTS
Skytrain and there are no lifts for those with large
pieces of luggage.
ATTA members continue to recommend to
their customers that they take public taxis to
Suvarnabhumi Airport, as they offer more
convenience at similar cost. Thais also prefer to
take cabs or personal vehicles directly to the
airport.
--The Nation, 8 August 2011
| 142
Printed
The operator has tried in vain to get more

passengers on the trains including fare
promotions such as a discounted flat-rate for its
City Line last year
The Association of Thai Travel Agents (ATTA)

claimed that SRT had totally failed in its handling
of this operation as it was attracting only a few
passengers.
When the Airport Rail Link was launched, the

SRT expected it to be a main feeder for travelers
to the airport, like the express train service from
the Malaysian capital to Kuala Lumpur
International Airport.
DOC ID
Contents
National Railway
Urban Transport
Printed

(BTSC)

| 143
URBAN TRANSPORT EXPANSION
DOC ID
Over the next 7 years, Bangkoks urban transport rail network will be
expanded significantly
Future Mass Transit Network Rail Length
(Track Length in km)
236.0 +583.2%
87.0
Printed
2010
2011
2013
2016E 2020E
! OTPs mass transit rail master plan for Bangkok Metropolitan and surrounding areas shows dramatic increase in total
track length over 2010-2020.
! By 2020, Bangkoks urban rail network will be expanded to 506.9 km.
Source: OTP Statistics, Ministry of Transportation, BTS Annual Report 2012/13
| 144
DOC ID
By 2020, Bangkok Mass Transit will have 10 new lines, with a total length
of 506.9 km
Planned track distance expansion by responsible parties
(Track length in km)
214
507
Under construction
In operation
263
Present
By 2020
Number of lines
4 lines
10 lines
Total track length (BTS,

MRT, SRT, and Airport Rail
Link)
85 km
506.9 km
Passenger trips/day
0.9 million
5.36
million
Pervasion (rail mass transit

length per million
population)
7.6 km
>40 km
Printed
! With 28% of the anticipated budget for railway

improvements (approximately THB 465 bn),
Bangkok hopes to see 10 new rail lines over the
next 7 years
! This plan includes both underground, elevated and
some monorail services
! Expansion of some lines has already started and
progress is visible throughout Bangkok
30
16
15
BMA
MRTA
SRT/SRTET
Total
! All 3 railway operators participating in the

expansion: BTS, MRT, and SRT (through SRTET)
Source: Ministry of Transport, BTS Annual Report 2012/12, BMCL Annual Report 2012
Future expansion
Description
| 145
DOC ID
After expansion, there will be 10 mass transit lines operating in Bangkok,

connecting the city center with the Bangkok Metropolitan Region
1. Red Line (80.8 km)
5. Green Line (66.5 km)

6. Purple Line (42.8 km)

8. Pink Line (36 km)
2. Light Red Line (54 km)
9. Yellow Line (30.4 km)
10. Dark Green Line (30 km)
Source: MRTA; Web Research
7. Orange Line (32.5 km)
Printed
4. Blue Line (55 km)
3. Airport Rail Link (78.9km)
| 146
DOC ID
Expansion will add 421.55 km of track to the existing network

Planned Line Expansion By Responsible Entities
Entities
SRTET
BMA
Projects
Route
1. Red Line (New)
Thammasat University Rangsit

Mahachai
80.8
80.8
2. Light Red Line (New)
Salaya Hua Mak
54.0
54.0
3. Airport Rail Link

(Extension)
Don Mueng Airport Suvarnabhumi

Airport
50.3
78.9
4. Blue Line (Extension)
Bang Sue Hua Lamphong Tha

Phra Putthamonthon
35.0
55.0
5. Light Green Line

(Extension)
Lam Luk Ka Bang Pu
44.25
66.5
6. Purple Line (New)
Bang Yai Rat Burana
42.8
42.8
7. Orange Line (New)
Charan Sanit Wong Min Buri
32.5
32.5
8. Pink Line (New)
Kae Rai Min Buri
36.0
36.0
9. Yellow Line (New)
Lat Phrao Sam Rong
30.4
30.4
10. Dark Green Line

(Extension)
Yotse Taling Chan
15.5
30.0
421.55
506.9
Total Expansion
Source: BMCL Annual Report 2012
Printed
MRTA
Total
Distance
(km)
SRT
Expansion
Distance
(km)
| 147
DOC ID
The expansion of the Bangkok Mass Transit System is under the

responsibility of four entities
SRTET will
extend the
Airport Rail
LInk
BMA to
oversee the
extension of
BTS line
Aside from the improvements of the

national railway network, SRT will also
expand its route networks in Bangkok
Two lines planned to connect outer
Bangkok (Red and Light Red Lines)
Dark Red Line currently

preparing for construction
Bang Sue Taling Chan
section of Light Red Line
completed
Airport Rail Link will extend and connect

Don Mueng Airport to Suvarnabhumi Airport
SRTET also plans to expand its rolling
stock
Planning stage
Six BKK mass transit lines will be under the

responsibility of the MRTA
Line will extend to outer Bangkok
Some lines will be operated by BMPCL
(MRT) and some by BTSC (BTS)
The Purple (new), Blue

(extension) and Green
(extension) lines are currently
under construction
BMA will oversee the extension of the BTS

Silom Line (operated by BTSC)
Line will be extended to Bang Wa
Planning stage
Printed
MRTA to
oversee 6
projects
Current Status
SRT to
construct 2
BKK lines
Overview
| 148
DOC ID

responsibility of four bodies
SRTET will
extend the
Airport Rail
LInk
BMA to
oversee the
extension of
BTS line


completed

stock
Planning stage


under construction

Planning stage
Printed
MRTA to
oversee 6
projects
Current Status
SRT to
construct 2
BKK lines
Overview
| 149
RAILWAY EXPANSION PLAN
DOC ID
SRT plans to extend 2 commuter lines in outer Bangkok

Dark Red Line
1 (Thammasat Rangsit Mahachai)
Total length: 80.8km
Extension 1 (Thammasat Rangsit Bang Sue)

36.3 km long
Contractor: Italian-Thai Development
Current status (3 June 13): Preparing for
construction
Expected completion time: 2017
Extension 3 (Hua Lamphong Bang Bon)

18 km long
Current status: Planning stage
Extension 4 (Bang Bon Mahachai)
20 km long
Current status: Expected to begin in 2019
Source: Thairath Newspaper; 3 June 2013
Printed
Extension 2 (Bang Sue Hua Lamphong)

16.5 km long
Current status: Bidding process soon
Technical Details
Total distance
Track gauge
Power supply
Train speed
: 80.8 km
: 1,000 mm x 4
: Overhead
: 160 km/hour
| 150
DOC ID
SRT plans to extend 2 commuter lines in outer Bangkok

2
Light Red Line (Salaya Huamak)
Technical Details
Total distance
Track gauge
Power supply
Train speed
: 54 km
: 1,000 mm x 2
: Overhead
lines
: 160 km/hour
Total length: 54 km
Extension 1 (Bangsue Talingchan)
15 km long
Current status (3 June 13): Completed, waiting for procurement of trains
Extension 2
Bang Sue-Ratchavitee-Phayathai-Makkasan: 9 km
Makkasan-Ramkamhaeng-Huamak: 10 km
Taling Chan-Taling Chan floating market-Chansanidwong-Siriraj: 6 km
Taling Chan-Baanchimplee-Kanchanapisek-Salaya: 14 km
Current status: Bidding process soon
Printed
| 151
DOC ID

SRTET will
extend the
Airport Rail
LInk
BMA to
oversee the
extension of
BTS line


completed

stock
Planning stage


under construction

Planning stage
Printed
MRTA to
oversee 6
projects
Current Status
SRT to
construct 2
BKK lines
Overview
| 152
DOC ID
SRTET plans to extend the Airport Rail Link to Don Mueng Airport to boost
convenience
3 Airport Rail Link
Total length: 78.9 km

Current airport link: 28.6 km long
Don Mueng Airport

Technical Details (Extension)

Total distance
50.3 km
Track gauge
Standard
Power supply
Overhead lines
Train speed
90-120 km/hr
(City), 130-160
km/hr (Express)
Printed
Extension 1: (Phayathai-MakkasanSuvarnabhumi Airport)

28.5 km long
Current status (3 June 13): Completed
since 2008
Extension 2: (Phayathai-Bang Sue-Don
Mueng Airport)
21.8 km long
Current status (June 2013): Design for
Bang Sue-Phayathai completed
Suvarnabhumi
Airport
| 153
DOC ID

SRTET will
extend the
Airport Rail
LInk
BMA to
oversee the
extension of
BTS line


completed

stock
Planning stage


under construction

Planning stage
Printed
MRTA to
oversee 6
projects
Current Status
SRT to
construct 2
BKK lines
Overview
| 154
DOC ID
MRTA will oversee the expansion of 6 Bangkok Mass Transit Lines
6. Purple Line (New): Bang Yai

Rat Burana (42.8km)
5. Green Line (Extension): Lam Luk Ka Bang Pu

(44.25 km)
8. Pink Line (New):

Khae Rai Minburi
(36km)
7. Orange Line (New):

Taling Chain Min
Buri (32.5km)
Printed
4. Blue Line (Extension): Bang

Sue Putthamonthon
(35km)
9. Yellow Line (New):

Lad Prao Somrong
(30.4km)
Source: MRTA, Ministry of Transport
| 155
DOC ID
MRTs blue line will be extended by 35 km; the construction is in progress

4 Blue Line (MRT line)
Total Length: 55 km
Printed
Source: Ministry of Transport, Blue Line Project Report
Current Blue line

! 20 km long
All underground
Extension 1 (Bang Sue Tha Phra)
13 km long, 10 stations
All elevated
Current status: 39.71% complete
Expected Completion: 2017
Extension 2 (Hua Lamphong Bang Kae)
Underground: Hua Lamphong Tha
Pra: 5 km, 4 stations
Elevated: Tha Pra Bang Kae: 9
km, 7 stations
Current status: Construction
Extension 3 (Bang Kae Putthamonthon 4)
8 km long
Current status: To start in 2019
| 156
DOC ID
BTSs Light Green Line will be extended for both sides, with total
extension of 44.25 km
5 Light Green Line (BTS Sukhumvit Line)
Extension 2,3
157
Printed
Source: Ministry of Transport, Green Line Project Report, Thairat June 2013, Thai Contractors Website
Extension 1
Total length: 66.5km

Current green line
! 22.25 km long
Extension 1 (Mochit Saphan Mai Kukod)
All elevated: 6.8 km, 5 stations
Current status: Bidding process to start in
2013
Extension 2 (Bearing Samut Prakan)
13 km, 9 stations
Extension 3 ( Samut Prakan Bang Pu)
! 7 km , 4 stations
! Current status: Bidding process to start in
2013
Extension 4 ( Kukod Lam Luk Ka)
! 5.25 km, 4 stations
! Current status: feasibility study
Extension 4
| 157
DOC ID
First phase of the Purple Line construction is expected to be completed in

2016 and will be operated by BMCL
6 Purple Line (Bang Yai Rat Burana)
Total Length: 42.8 km
Extension 1 (Bang Yai Bang Sue)

All elevated
Printed
Extension 2 (Tao Poon Rat Burana)

19.8 km long, 16 stations
Underground: 13.2 km, 11 stations
Elevated: 6.8 km, 5 stations
Current status: Bidding process begins 2014
MRTA has granted BMCL a Concession
Agreement for Supply of M&E Systems
and O&M Services of the MRT Purple Line
Extension 1
Source: MRTA; Web Research; Thairat June 2013
Extension 2
| 158
DOC ID
Orange Line with a total length of 32.5 km is in the planning stage

7 Orange Line (Charan Sanit Wong Min Buri)
Total Length: 32.5
Extension 2 (Thailand
Cultural Center Bangkapi)
9 km
Current status: Feasibility study
Extension 3 (Bangkapi Min

Buri)
11 km
Printed
Orange Line Total

Extension: 32.5 km
Extension 1 (Charan Sanit

Wong Thailand Cultural
Center)
12.5 km long
Current status: Bidding process
begins 2014
| 159
DOC ID
Pink Line with a total length of 36km is in the planning stage

8 Pink Line (Kae Rai Min Buri)
Total Length: 36 km
Extension 1 (Kae Rai Min Buri)

36 km, 30 stations
All straddle monorail
Printed
Pink Line Total Extension:

36 km
| 160
DOC ID
Yellow Line with a total of 30.4km is in planning stage

9 Yellow Line (Lad Prao Sam Rong)
Total Length: 30.4 km
Extension 1 (Lad Prao Bangkapi)

All straddle monorail
Current status: Reviewing feasibility study,
initial design
Printed
Extension 2 (Bangkapi Sam Rong)

All elevated
Extension connects with Airport Rail Link
(ARL)
Current status: Reviewing feasibility study
| 161
DOC ID
Following the planned expansion of infrastructure, MRTA also plans to

procure additional rolling stock
Current Fleet
Number of cars
Manufacturer
Electric train
19
Siemens (Modular Metro)
Type
Future expansion
Number of
cars
Status
Electric train
437
Monorail trains
300
Bidding to procure cars for

Blue Line expansion
expected to begin early
2014
Budget
40 - 50 billion baht
Printed
Type
MOT propose for Thai electrified trains1

Minister of MOT propose an idea for Thailand to establish its own factory
producing electrified trains. The responsible party can be either:
1. The private sector receiving concession for its factory from the MRTA
2. The public sector (MRTA)
3. Publicprivate partnership (MRTAprivate company)
Source: Thai Post Newspaper, 30 August 2013, 1Thairath Newspaper, 30 August 2013
| 162
DOC ID

responsibility of four bodies
SRTET will
extend the
Airport Rail
LInk
BMA to
oversee the
extension of
BTS line


completed

stock
Planning stage


under construction

Planning stage
Printed
MRTA to
oversee 6
projects
Current Status
SRT to
construct 2
BKK lines
Overview
| 163
DOC ID
BMA currently has 2 extension plans for BTS Silom line (Dark Green Line)
10 Dark Green Line (Yotse Taling Chan)
Total length: 30km
Current Dark Green Line
14.5 km long
Extension 1 (Bang Wa Taling Chan)

Number of stations: 6
Current Status: Under planning stage
Expected Completion: 2018
Extension 2 (National Stadium Yotse)
Printed
Extension 2
Current status: To start in 2019
Source: BTS Group; Group General PresentationMarch 2013, Mthail News Dec 2013
| 164

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Thailands Railway Industry

Overview and Opportunities for

CONFIDENTIAL AND PROPRIETARY

Executive Summary Current Railway Sector: Thailand (1/2)

Working Draft - Last Modified 7/29/2011 8:36:50 PM

UMI Asia (Thailand) Ltd.

Executive Summary Challenges and Future Prospect: Thailand (2/2)

UMI Asia (Thailand) Ltd.

Working Draft - Last Modified 7/29/2011 8:36:50 PM

Overview of the Thai railway sector

Thailand Country overview and economic

Working Draft - Last Modified 7/29/2011 8:36:50 PM

UMI Asia (Thailand) Ltd.

Thailand is the 2nd largest economy in ASEAN after Indonesia

Working Draft - Last Modified 7/29/2011 8:36:50 PM

Source: Central Intelligence Agency

Population: 67,448,120 (July 2013 est.)

UMI Asia (Thailand) Ltd.

! This growth was

Source: World Bank

UMI Asia (Thailand) Ltd.

! Average growth rate

Working Draft - Last Modified 7/29/2011 8:36:50 PM

In addition to strong economic growth, Thailand is also an attractive

AT Kearny Global Services Location Index 20111

Thailand ranked globally among the top

Working Draft - Last Modified 7/29/2011 8:36:50 PM

Thailand is among the top countries in the

UMI Asia (Thailand) Ltd.

The overall infrastructure of Thailand is among the highest ranked in

Source: World Economic Forum: Global Competitiveness Report 2013

Currently, the quality of

Thailand is, however,

UMI Asia (Thailand) Ltd.

Working Draft - Last Modified 7/29/2011 8:36:50 PM

Thailands political system is a constitutional monarchy

Source: Central Intelligence Agency, Bangkok Post Dec 2013

! Thai Prime Minister Yingluck Shinawatra has dissolved

Despite facing a number of political challenges,

Economic growth forecast for 2014 is approximately

Potential impact on the schedule of government

However, any government can be expected to

UMI Asia (Thailand) Ltd.

! Demonstrators in Bangkok seeking to oust Prime

Current Political Situations

Opportunities With strong FDI policies in place, Thailand holds many

Thailands modal shift

High rankings for

Source: Team analysis

Under the government infrastructure investment program of THB 2.0 trillion,

Working Draft - Last Modified 7/29/2011 8:36:50 PM

As the 2nd biggest economies in the ASEAN region, Thailand is a good

Risks Despite various opportunities in Thailand, the country also faces

According to the Corruption Perceptions Index 2013, Thailand ranked

Working Draft - Last Modified 7/29/2011 8:36:50 PM

Several political unrests have erupted in Thailand in the past decade,

Source: Team analysis

UMI Asia (Thailand) Ltd.

Overview of the Thai railway sector

Thailand Country overview and economic outlook

Working Draft - Last Modified 7/29/2011 8:36:50 PM

UMI Asia (Thailand) Ltd.

OVERVIEW OF THE THAI RAILWAY SECTOR