The acting governor of the State Railway of Thailand (SRT) has announced that a consortium led by Charoen Pokphand Ground (CP) has submitted the lowest bid to develop a 220km high-speed rail line linking Suvarnabhumi and Don Mueang airports in Bangkok, with U-Tapao, a joint civil-military airport in Rayong province.

Although, the bid must be subject to due diligence before the consortium is declared the winner. Other members include Bangkok Expressway and Metro Plc, China Railway Construction Corporation Ltd, Ch Karnchang Plc, and Italian-Thai Development Plc.

Only one other bidding team was prequalified to submit a proposal for the THB224.5 billion (US$6.8 billion) project, comprised of Bangkok Mass Transit System Plc, Sino-Thai Engineering and Construction Plc, and Ratchaburi Electricity Generating Holding Plc.

SRT is holding talks with the CP consortium this week. A key issue is thought to be the team's state subsidy request, though this is reportedly below the THB119 billion (US$3.6 billion) maximum. Should the bid pass all outstanding evaluation, the official contract award will be announced next month.

The consortium will sign a 50-year build-operate-transfer concession contract. This includes five years for design and construction, with the high-speed railway scheduled to open in 2024.