The Port Authority of Thailand (PAT) and GPC International Terminal Ltd. (GPC) have signed a public-private partnership (PPP) contract for the development and operation of the Laem Chabang Port Phase 3, Terminal F project in Chonburi province.

The investment value of the project is THB30.87 billion (US$914.5 million). The project aims to promote the Laem Chabang Port towards the gateway of trade and investment, driving Thailand towards becoming a regional hub and increasing the country’s competitive edge. The contract for construction and operation has a 35-year period. The construction of the first part is planned for 2023, and the port is expected to be finalized and open for commercial operations in 2025.

GPC International Terminal is a joint venture between Gulf Energy Development plc (GULF), PTT Tank Terminal Company Limited (PTT TANK) and CHEC OVERSEA INFRASTRUCTURE HOLDING PTE. LTD. (CHEC OVERSEA). GULF holds a 40% stake, while PPT TANK and CHEC OVERSEA hold 30% of the GPC's shares.