Railway Industry

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CONFIDENTIAL AND PROPRIETARY

Any use of this material without specific permission of UMI Asia (Thailand) Ltd. is strictly prohibited

Thailand’s Railway Industry –

Overview and Opportunities for

Foreign Businesses

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UMI Asia (Thailand) Ltd. W orki ng D ra ft - La st Mo dif ie d 7 /2 9/2 01 1 8 :3 6:5 0 PM Pri nte d | 1

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.

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.

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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Several challenges have also been revealed in our study of the railway industry.

▪ 

SRT’s 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 The success of the much needed improvement and expansion of rail networks in Thailand will depend on the parliament’s approval of the government’s THB 2.0 trillion Infrastructure Investment

Program. The future of railways in Thailand is composed of high speed rail networks and double-track 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

(4)

▪ Thailand – Country overview and economic

outlook

▪ Overview of the Thai railway sector

▪ National Railway

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UMI Asia (Thailand) Ltd. W orki ng D ra ft - La st Mo dif ie d 7 /2 9/2 01 1 8 :3 6:5 0 PM Pri nte d |

Thailand is the 2

largest economy in ASEAN after Indonesia

4

!  Total Area: 513,120 sq km

!  Administrative divisions: 77 provinces !  Capital City: Bangkok

!  Shares border with: Myanmar, Laos, Cambodia, Malaysia

▪ 

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%

Country Key Facts

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UMI Asia (Thailand) Ltd. W orki ng D ra ft - La st Mo dif ie d 7 /2 9/2 01 1 8 :3 6:5 0 PM Pri nte d | GDP Thailand 2008 – 2012 (USD Billion) !  GDP in 2012 was worth USD 365.6 billion !  Average growth rate

throughout the past 5

years was 7.6%

!  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% 400 390 350 270 370 300 380 360 0 260 340 330 320 310 290 280 10 +4.0-5.0% 2013E 2012 273 2008 +7.6% 266 2009 319 2010 346 2014E 2011 377 3.0% 366 391-395 5

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

(7)

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

investment location in Asia with a very business-friendly environment

6

Thailand ranked globally among the top 10% of countries in terms of ease of doing business

World Bank ease of doing business 2013

(Source: World Bank)

Country 2013 Ranking Singapore 1 Malaysia 12 Thailand 18 Brunei 79 China 91 Vietnam 99 Indonesia 128 Cambodia 133 Philippines 138 Laos 163

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

Country 2011 Ranking Malaysia 3 Indonesia 5 Thailand 7 Vietnam 8 Philippines 9 Singapore 32

Thailand is among the top countries in the world in terms of services, with a strong and continuously improving IT infrastructure

Source: World Bank, AT Kearny

AT Kearny Global Services Location Index 20111

(8)

The overall infrastructure of Thailand is among the highest ranked in

Southeast Asia, with only rail infrastructure still lagging behind

7

Region Country Overall Rail Roads Port Air

Southeast Asia Thailand 61 72 42 56 34 Indonesia 82 44 78 89 68 Vietnam 110 58 102 98 92 Myanmar 146 104 138 136 146 Asia Pacific China 74 20 54 59 65 India 85 19 84 70 61 Europe Switzerland 1 2 8 40 7 Germany 10 7 11 9 8 North America United States 19 17 18 16 18 Quality of Infrastructure

(Ranking out of 148 countries)

▪ 

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

(9)

Thailand’s political system is a constitutional monarchy

8

!  Demonstrators in Bangkok seeking to oust Prime Minister Yingluck Shinawatra sparked the most violent anti-government clashes in more than three years !  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

Current Political Situations

Source: Central Intelligence Agency, Bangkok Post Dec 2013

▪ 

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

Political Effects to Thai Economy Political System in Thailand

!  Government type: Constitutional Monarchy

▪ 

Executive branch:

- 

Chief of State: King Bhumibhol

Adulyadej (since 9 June 1946)

- 

Head of Government: Prime

Minister Yingluck Shinawatra

- 

Cabinet: Council of Ministers

▪ 

Legislative branch:

- Bi-cameral National Assembly or

“Rathasapha” consisting of the House of Representatives and the Senate

▪ 

Judicial branch:

- 

Independent of the executive and the legislative branches

- 

Constitutional Court plays a major role in protecting the constitution

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Opportunities – With strong FDI policies in place, Thailand holds many

opportunities for future foreign investments

Source: Team analysis

Description

▪ 

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

Realization of the ASEAN Economic Community in 2015

Thailand’s modal shift from road to rail

transport

▪ 

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

High rankings for ease of doing business

▪ 

According to a survey for the ease of doing business (2013) conducted by World Bank, Thailand ranked 18th_{globally and 3}rd_{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

Currently

underdeveloped rail infrastructure

▪ 

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

(11)

Risks – Despite various opportunities in Thailand, the country also faces

some challenges

▪ 

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

Political uncertainty

Description

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

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▪ Thailand – Country overview and economic outlook

▪ Overview of the Thai railway sector

▪ National Railway

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The history of railway in Thailand goes back 123 years

Source: State Railway of Thailand; Web research

Year 1891 1894 1917 1920 1945 1951 1968 1999 2004 2010 Event

▪  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

▪  First rail service between Bangkok and Ayutthaya on March 26, 1894

▪  Bangkok Tram service installed in late 1890s and continuously expanded

▪  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

▪  Most of Thailand’s railway infrastructure is destroyed through air-raids during World War II

▪  Royal State Railway of Siam becomes a state enterprise and is renamed to State Railway of Thailand (SRT)

▪  Bangkok’s Tram service is cancelled due to low passenger traffic

▪  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)

▪  Bangkok’s underground train, Metropolitan Rapid Transit (MRT) starts operation on July 3, 2004; the service is operated by privately-owned Bangkok Metro Company Ltd. (BMCL)

▪  Bangkok’s “Airport Rail Link”, operated by SRT, starts services between the city center and Suvarnabhumi International Airport

(14)

Thailand’s rail system has continuously grown over time, and is about to

face another major expansion

Source: State Railway of Thailand, Reuters

Future outlook

▪ 

Significant expansion of railway tracks by 67% compared to current network

▪ 

Government plans to build high-speed railway connections to major cities within Thailand:

– 

Phase 1: Bangkok – Nakhon

Rachasima (260km)

– 

Phase 2: Bangkok – Chiangmai (700km)

– 

Phase 3: Bangkok – Hua Hin (200km)

▪ 

Future plans for further expansion to connect neighbouring countries:

▪ 

Bangkok – Vientiane / Laos (615km)

▪ 

Bangkok – Padang Basar / Malaysia (980km) +67% 2017e 2013 1946 1924 1910 1868 2020e

Development of track km over time

(15)

There are 4 railway operators in Thailand (1/2)

Source: State Railway of Thailand; BTS; MRTA; Web research

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

(SRTET) 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

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

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

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

(16)

There are 4 railway operators in Thailand (2/2)

Source: State Railway of Thailand; BTS; MRTA; Web research

Bangkok Mass Transit System Company Limited (BTSC)

Bangkok Metro Public Company Limited (BMCL)

▪ 

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

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)

▪ 

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

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)

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Three governing bodies oversee Thailand’s railway systems

16 MOT Ministry of Transport Governing Bodies O p er ato rs Tr ai n s ys te m s SRT State Railway of Thailand SRTET SRT Electrified Train BMCL

Bangkok Metro Public Company Limited

BTSC

Bangkok Mass Transit System Company

Limited BMA

Bangkok Metropolitan Administration

Airport Rail Link High Speed Train

National Rail MRT (Underground Train) BTS (Skytrain) Bangkok National State Enterprises Private Companies MRTA

Mass Rapid Transit Authority

Subsidiary Future

(18)

Entity Roles / Responsibilities Relevance

Governing Bodies

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 R eg u la to

rs 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

O

p

er

ato

rs

State Railway of Thailand (SRT) !  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

Relevant entities in Thailand’s railway system have clearly defined roles

(19)

The Thai railway sector faces several challenges, which is reflected in the

low international ranking of rail infrastructure quality

18

!  The SRT’s trains are very old and run mostly on single-track rails; average train speeds are only 39 km/hour for freight and 60 km/

hour for passenger trains

!  Train delays are common due to under-maintained 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

Source: Global Competitiveness Report (WEF); Office of Transport and Traffic Policy and Planning (OTP)

Country Rail Road Port Air Overall

Japan 1 12 30 37 14 Switzerland 2 8 40 7 1 Hong Kong 3 5 3 2 2 Singapore 10 7 2 1 5 Malaysia 18 23 24 20 25 Indonesia 44 78 89 68 82 Vietnam 58 102 98 92 110 Thailand 72 42 56 34 61 Philippines 89 87 116 113 98 Myanmar 104 138 136 146 146 Quality of Infrastructure

(20)

Within the Government’s THB 2.0 trillion Infrastructure Investment

Program, a major portion will go to railway projects

19 Source: Ministry of Transport; Web Research, Phatra Securities

Out of the Government’s THB 2.0 trillion infrastructure program…

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

Key Objectives:

▪ 

Cut logistics cost from 15.2% to 13.2% of GDP

▪ 

Create 1.6mn jobs

▪ 

Annual GDP growth of 1%

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

… 83% are allocated to railway projects

THB 1.66 trillion (USD 55.3 billion) to be used for rail network

Others 2% Water 1% Road Rail 83% 100% = THB 2.0 trillion (USD 66.7 bn)

(21)

Railway expansion projects can be broken down into 3 groups of projects

20 Source: 1_{Bangkok Post, 26 July 2013; Web research,}2_{Phatra Securities, Ministry of Transport}

Major expansion projects (2013-2020) 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

▪ 

Planned spent for expansion: approximately THB 780 billion (USD 26 billion)

▪ 

Project Timeline: 2013-2018

Double-Track Rail Improvements

▪ 

Project owner: SRT

▪ 

Track length: 2,857 km by year 2020

▪ 

Connectivity: 43 provinces

▪ 

Bangkok Mass Transit Systems

▪ 

Project owner: SRT, SRTET, MRTA, BMA

▪ 

Possible operators: SRT, SRTET, BMCL, BTSC

▪ 

Track length: 421.55 km

▪ 

Connectivity: 10 lines

▪ 

Breakdown of rail budget allocation1

BKK Mass Transit systems 28% Double- Track rail 24% High Speed Trains 47% 100% = THB 1.66 trillion (USD 55.3 bn)

(22)

Railway expansion will commence promptly after the approval of the

Infrastructure Investment Program by parliament

21

2013 2014 2015 2016 2017

!  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 high-speed rail lines to connect Suvanarnabhumi Airport (via Airport Rail Link) – Chonburi – Pattaya – Rayong

!  Maintenance and repair of tracks, sleepers, bridges and fences

Activity

!  Bidding process for new SRT line (Baan Pa Chi – Nakorn Luang) !  Bidding process for the construction of 6 double-rail tracks

State Railway of Thailand (SRT)

!  Bidding process for the construction of 3 high-speed rail lines (BKK-Chiangmai, BKK-Pitsanulok, BKK-Padang Besar)

!  Bidding process for new SRT line (Baan Pai – Nakorn Panom)

!  Bidding process for new SRT line (Den Chai – Chiang Rai – Chiang Kong)

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 line: –  (1) Green line (Samut Prakarn – Bang Pu)

–  (2) Connection of Suvarnabhumi Airport to Don Muang Airport (Bang Sue / Phayathai) !  Bidding process for 5 double-rail tracks

(23)

The majority of spending will happen during 2016-2018

22

Planned investment for transportation infrastructure (2013-2020)

(THB Billion; Cumulative spend in Percent)

200 30% 250 20% 0 300 350 10% 0 40% 50% 60% 70% 80% 100% 90% 400 450 500 50 100 150 2015 0 150 293 2016 2017 426 471 372 172 95 2013 2014 2018 2019 2020 Cumulative spend Planned Investment

(24)

▪ Thailand – Country overview and economic outlook

▪ Overview of the Thai railway sector

▪ National Railway

– 

State Railway of Thailand (SRT)

(25)

State Railway of Thailand (SRT)

1.  General overview

2.  Track infrastructure

3.  Rolling stock

4.  Key statistics and additional information

5.  Current challenges

(26)

Company Profile: State Railway of Thailand (SRT)

Source: State Railway of Thailand; Web research, Ministry of Transport: Budget 2556 Presentation

Current Budget (THB million)1

Track data

▪ 

Track length: 4,035 km

▪ 

Track gauge: 1,000 mm

▪ 

Northern Line, Northeastern Line, Eastern Line, South Line, Mae Klong

▪ 

Mostly single-track rails

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

Ownership structure (Percent) 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

State-owned 100%

Logo

Used 79% Remaining budget Liability 16% 5% 1 As of 30 Jun 2013 100% = 18,061.27

(27)

Organization Chart of SRT

Board of Commissioners [Ms. Soithip Traisuth]

Internal Audit Department [Mr. Kriangkrai Nuchlamyong]

Property Management Bureau [Ms. Moleemas Chatrakom]

Verify Control and Evaluation Division [Mr. Podchana Vipatawat] Governor [Mr. Prapas Jongsa-nguan] Legal Bureau [Mr. Vitoon Sansoen] Chief Operation [Mr. Sipith Thetha] Business Unit Traffic Management [Mr. Prachak Manotham] Governor Bureau [Mr. Surat Dabmai]

Public Relation and Tourism Services Center [Ms. Montakarn Sriwilas] Policy, Planning, Service, Research and

Development Bureau [Mr. Aek Sithiwaekin]

Board of Commissioners, Coordination and Secretarial Center

[Mr. Vichai Kasisopa]

Deputy Governor Administration [Mr. Viroj Triampongpat] Business Unit Property Management [Mr. Prasert Atthanan] Business Unit Maintenance [Mr. Sitthipong Promla] Deputy Governor Infrastructure 1

[Mr. Pakorn Tangjaedsakao] Deputy Governor Infrastructure 2 [Mr. Kamol Tangkijcharoenchai]

Civil Engineering Department [Mr. Suprapas Saeneewong Na

Ayuthaya]

Special Project and Construction Department [Mr. Charae Rungthanee]

Signalling and Telecommunications Department [Mr. Soonthorn Balyor]

Electrified Rail Management Bureau [Mr. Sitthichai Boonsermsuk]

Personnel Department [Mr. Peerapat Pantrakarn]

Finance and Accounting Department [Mr. Peeradej Nukwan]

Information System Department [Mr. Awirut Thongnet]

Stores Department [Mr. Thaweesak Sutthiserm ]

Medical Bureau [Dr. Laksamee Riankittiwat]

Risk Management Center [Ms. Suwan Kliangpraneet]

Railway Police Division [Pol.Maj.Gen. Surapong Siripakdee] Traffic Department [Mr. Charaspan Racharothai] Marketing Department [Mr. Worawuth Mala]

Container Transport Bureau [Mr. Kanuan Kamnak]

Property Management and Development Department [Mr. Paisarn Subrungroj] Mechanical Engineering Department [Mr. Narongrit Siwasaroj] SRTET Co., Ltd. Airport Rail Link

(28)

State Railway of Thailand (SRT)

1.  General overview

2.  Track infrastructure

3.  Rolling stock

4.  Key statistics and additional information

5.  Current challenges

(29)

SRT’s 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 ▪  Track length: 1,093 km

▪  Key Cities: Saraburi, Nakhon Ratchasima, Ubon Ratchathani, Konkaen, Udon Thani, Nongkhai

▪  Travel duration: ~13 hours (BKK-Nong Khai)

Eastern Route

▪  Track length: 527 km

▪  Key Cities: Chachoengsao, Chonburi, Pattaya, Sattahip

▪  Travel duration: ~4 hours (BKK-Pattaya)

Southern Route

▪  Track length: 1,569 km

▪  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

(30)

Out of SRT’s 4,035 km of track, 93% are currently single track

Thailand’s track infrastructure by type1

(Track km)

Single Track Double Track Triple Track 173

Total 107

93% 4% 3% 100%

(31)

Most sleepers are mono concrete block type sleepers

30 Source: State Railway of Thailand; Web research

1  Numbers as of 2009; excludes commercial tracks / separate track systems

Breakdown of sleepers by type1

(Track km) 4,429 253 2,637 Mono concrete block 1,539 Total Wooden block Two concrete block Sleeper count (Number) 2,565,002 4,794,889 459,304 7,819,195

(32)

In main routes, most of the old rails are 70 pound-type, while new rails are

100 pound-type

31 Total 4,364 100 Pound 1,423 80-85 Pound 811 70-75 Pound 1,738 60 Pound 335 50 Pound

Breakdown of rails by type1

(Track km) Age (Years) >47 >44 45 34 4-10 Main Routes

1  Numbers as of 2009; excludes commercial tracks / separate track systems

(33)

More than half of the rails in Mahachai – Mae Klong Route are 50-60

pound-type, all of which are over 40 years old

32

Mahachai – Mae Klong Route

Total 70 Pound 50-60 Pound

Breakdown of rails by type1

(Track km)

Age

(Years)

>40

41

(34)

State Railway of Thailand (SRT)

1.  General overview

2.  Track infrastructure

3.  Rolling stock

4.  Key statistics and additional information

5.  Current challenges

(35)

For tractive stock, SRT has a total of 253 locomotives in use

34

Diesel Electric Locomotive Total In Use Age (Years)

!  GEA 38 36 16 !  HID 22 21 19 !  ADD 20 19 27 !  ALD 8 8 29 !  AHK 30 29 31-32 !  ALS 46 46 37-38 !  GE 46 46 45-48 !  DA.500 14 14 57-60 !  DA.1000 3 3 56-57 Total 227 222

Diesel Hydraulic Locomotive Total In Use Age (Years)

!  KP 14 14 43

!  HE 6 6 48

!  HU 1 1 47

!  HAS 10 10 26-27

Total 31 31

Source: State Railway of Thailand; fiscal year 2012

(36)

For tractive stock, SRT has a total of 230 Diesel Multiple Units in use

35

Diesel Multiple Units Total In Use Age (Years)

!  HI-Renovate 63 63 41-45 !  THN 40 38 29 !  NKF 62 62 27 !  ATR 11 11 27 !  ASR 20 17 21 !  APD.20 12 12 16 !  APD.60 20 19 16 !  APN.20 8 8 16 Total 236 230

(37)

Fleet age is a major challenge for SRT, with most of its tractive stock

between 26-30 years old

36

Age profile of SRT’s tractive stock

(Number of locomotives and DMUs per age group)

46-50 years >50 years 31-35 years 36-40 years 41-45 years 16-20 years 21-25 years 15 years or less 26-30 years

(38)

Details on SRT’s Locomotive fleet (1/5)

CM22-7i (GEA) 4523-4560 Technical Details

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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

8FA-36C (HID) 4501-4522 Technical Details

▪ 

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

(39)

Details on SRT’s Locomotive fleet (2/5)

AD24C (ADD) 4401-4420 AD24C (ALD) 4301-4309

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

▪ 

Numbers: 4301 – 4309

▪ 

Year(s) built: 1983

▪ 

Quantity: 9

▪ 

Horsepower: 2,400

▪ 

Max Speed: 100 km/h

(40)

Details on SRT’s Locomotive fleet (3/5)

AD24C (AHK) 4201-4230 AD24C (ALS) 4101-4154

▪ 

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 Technical Details

▪ 

Numbers: 4101 – 4154

▪ 

Year(s) built: 1974-75

▪ 

Quantity: 54

▪ 

Horsepower: 2,400

▪ 

Max Speed: 90 km/h

▪ 

Note: First batch of AD24

(41)

Details on SRT’s Locomotive fleet (4/5)

M1500BB (KP) 3101-3130 UM12C (GE) 4001-4050

▪ 

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

(42)

Details on SRT’s Locomotive fleet (5/5)

DH1200BB (HE) 3001-3027 Technical Details

▪ 

Manufacturer: 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

(43)

Details on SRT’s Diesel Multiple Units (1/4)

RHN

▪ 

Manufacturer: Hitachi

▪ 

Numbers: 1011-1028 (power 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.

RTS

▪ 

Manufacturer: Tokyu

▪ 

Numbers: D9-D16 (power cars)

TS4-TS7 (central/trailer cars)

▪ 

Year(s) built: 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).

(44)

Details on SRT’s Diesel Multiple Units (2/4)

THN NKF

▪ 

Manufacturer: Tokyu, Hitachi, Nippon Sharyo

▪ 

Numbers: 1101-1140

▪ 

Year(s) built: 1983

▪ 

Horsepower: 235

▪ 

Max Speed: 105 km/h

▪ 

Note: Similar to NKF Technical Details

▪ 

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

(45)

Details on SRT’s Diesel Multiple Units (3/4)

ASR (Class 158 Express Sprinter) APD.20

▪ 

Manufacturer: 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

(46)

Details on SRT’s Diesel Multiple Units (4/4)

APD.60

▪ 

Manufacturer: Daewoo Heavy Industries

▪ 

Numbers: 2525-2544

▪ 

Year(s) built: 1996

▪ 

Horsepower: 298

▪ 

Max Speed: 120 km/h

(47)

In terms of trailing stock, SRT 6,329 units are in use

46

Freight Wagons Total In Use Age (Years)

!  4-wheels 2322 1919 25-110

!  8-wheels 3310 3117 2-86

!  12-wheels 5 5 20

Total 5637 5041

Passenger Cars Total In Use Age (Years)

!  Air conditioned 292 285 15-53

!  Non air conditioned 770 766 29-88

!  Food selling 60 59 38-83

!  Baggage 79 75 31-97

!  Others (non-commercial) 15 15 45-99

Total 1260 1244

Service Cars Total In Use Age (Years)

!  Emergency bogie 27 27 59-92

!  Track maintenance bogie 17 17 36-97

Total 44 44

(48)

Freight wagons are classified into 3 types

47

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

!  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

(49)

Details on SRT’s Type 1 Freight Wagons (1/2)

Covered Goods Wagon (CG) Bogic Covered Goods Wagon (BCG)

▪ 

Manufacturer: Fuji Japan

▪ 

Model: 150401-151240

▪ 

Dimensions: 2300 x 6900 x 3310 mm (WxLxH)

▪ 

Wheels: 4

▪ 

Weight: 8.90 tons (empty), 23.9 tons

(full)

▪ 

Goods weight: Max 13,500-15,000 kg

▪ 

Used since: 1965 Technical Details

▪ 

Manufacturer: Korea

▪ 

Models: 25001-25158

▪ 

Wheels: 8

▪ 

(full)

▪ 

(50)

Details on SRT’s Type 1 Freight Wagons (2/2)

Salt Wagon (SW) Salt Wagon (SW)

▪ 

Manufacturer: Yosoki Japan

▪ 

Model: 61-130

▪ 

Wheels: 4

▪ 

(full)

▪ 

Manufacturer: Belgium

▪ 

Models: 15001-15100

▪ 

Wheels: 4

▪ 

Weight: 9.00 tons (empty), 24.00 tons (full)

▪ 

(51)

Details on SRT’s Type 2 Freight Wagons (1/5)

Low Sided Wagon (LS) Low Sided Wagon (LS)

▪ 

Manufacturer: Japan

▪ 

Model: 1177-1381

▪ 

Wheels: 4

▪ 

(full)

▪ 

Goods weight: Max 13,500 kg

▪ 

Used since: 1941

▪ 

Manufacturer: Marcor USA

▪ 

Models: 1382-1431

▪ 

Wheels: 4

▪ 

(52)

Details on SRT’s Type 2 Freight Wagons (2/5)

Bogic Low Sided Wagon (BLS) High Sided Wagon (HS)

▪ 

Manufacturer: N/A

▪ 

Model: N/A

▪ 

Wheels: 8

▪ 

(full)

▪ 

Used since: 1968-1969

▪ 

Manufacturer: Nippon Shapyo Japan

▪ 

Models: 15001-15050

▪ 

Wheels: 4

▪ 

Goods weight: Max 15,000kg

(53)

Details on SRT’s Type 2 Freight Wagons (3/5)

Bogie High Sided Wagon (BHS) Hopper Wagon (HW)

▪ 

Manufacturer: Australia

▪ 

Model: 161-260

▪ 

Wheels: 8

▪ 

(full)

▪ 

Manufacturer: N/A

▪ 

Model: N/A

▪ 

Wheels: 4

▪ 

(54)

Details on SRT’s Type 2 Freight Wagons (4/5)

Bogie Hopper Wagon (BHW) Technical Details

▪ 

Manufacturer: Germany

▪ 

Model: 27-56

▪ 

Wheels: 8

▪ 

(full)

▪ 

Manufacturer: Japan

▪ 

Model: 42101-42120

▪ 

Wheels: 8

▪ 

(full)

▪ 

Used since: 1998

(55)

Details on SRT’s Type 2 Freight Wagons (5/5)

Low-Sided Tipping Wagon (LT) Technical Details

▪ 

Manufacturer: Taiwan

▪ 

Model: 15051-15100

▪ 

Wheels: 4

▪ 

(full)

▪ 

Manufacturer: USA

▪ 

Model: 71-255

▪ 

Wheels: 4

▪ 

(full)

▪ 

Used since: 1947-1951

(56)

Details on SRT’s Type 3 Freight Wagons (1/4)

Oil-Tank Wagon (OT) Technical Details

▪ 

Model: 515001-515010

▪ 

Dimensions: 6550 x 3115 mm (LxH)

▪ 

(full)

▪ 

Used since: 1962-1970 Technical Details

▪ 

Manufacturer: N/A

▪ 

Model: N/A

▪ 

(full)

▪ 

Used since: 1953

(57)

Details on SRT’s Type 3 Freight Wagons (2/4)

Container Flat Wagon (CF) Technical Details

▪ 

Manufacturer: N/A

▪ 

Model: N/A

▪ 

Dimensions: 2300 x 6900 mm (LxH)

▪ 

Wheels: 4

▪ 

(full)

▪ 

Manufacturer: N/A

▪ 

Model: N/A

▪ 

(full)

▪ 

Goods weight: 24,000-38,000 kg

▪ 

Used since: 1989

(58)

Details on SRT’s Type 3 Freight Wagons (3/4)

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

▪ 

Manufacturer: China

▪ 

Model: 444141-444249

▪ 

(full)

▪ 

Manufacturer: N/A

▪ 

Model: N/A

▪ 

(full)

▪ 

Used since: 1981

(59)

Details on SRT’s Type 3 Freight Wagons (4/4)

Bogie Heavy Flat Wagon (BFH) Technical Details

▪ 

Model: 45-110

▪ 

(full)

▪ 

Used since: 1958

▪ 

Manufacturer: Taipei, Taiwan

▪ 

Model: 15001-15100

▪ 

Dimensions: 2180 x 6550 x 3236 mm

(WxLxH)

▪ 

(full)

▪ 

Used since: 1965

(60)

State Railway of Thailand (SRT)

1.  General overview

2.  Track infrastructure

3.  Rolling stock

4.  Key statistics and additional information

5.  Current challenges

(61)

SRT has 8 different train services for passenger transport

60

Description Train Types

!  For long distance routes with few stops in key cities !  Currently 10 trains operating this service

!  Type 1: Special Express

!  Similar to Special Express service with more freight bogies !  Currently 9 trains operating this service

!  Type 2: Express

!  For long distance routes with more stops than Express service !  Currently 18 trains operating this service

!  Type 3: Rapid

!  Train service for every national routes, stopping at all stations !  Currently 28 trains operating this service

!  Type 4: Ordinary

!  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 5: Bangkok

Commuter

!  Train service to commute between provinces, stopping at all stations !  Total of 24 trains operating this service from every line

!  Type 6: Rural Commuter

!  Similar to Rural Commuter service but also includes freight transport !  Currently 8 trains operating this service per day

!  Type 7: Mixed

!  Train service operating only on the weekends and public holidays, stopping only at stations with tourist attractions

!  Total 3 trains operating this service !  Type 8: Excursion

(62)

Passenger numbers are gradually decreasing over the past two decades,

with an average annual rate of decline of 3.3%

61

Gradual increase

Source: Ministry of Transport; 30 July 2013

SRT Ridership

(Million passengers per year)

!  Ridership has an annual average

decline rate of 3.3%

over the last two decades

!  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

!  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 04 51 03 54 02 56 01 56 2000 61 99 55 98 61 97 65 96 68 95 72 94 87 93 88 92 88 91 87 1990 85 47 -3.3% 07 45 06 49 05 50 -2.2% -8.8% +0.6% 2012 41 11 46 10 45 09 47 08

(63)

Only 2% of Thailand’s freight transport is via rail

62

Logistics breakdown: domestic freight transportation (2012)

(Percent)

Rail transport by commodity type (2011)

(Percent)

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 7% 9% Seaport Road 2%Rail Waterways 24% 1% Miscellaneous Goods Others 10% Cement Fuel

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%)

(64)

Freight transport via rail shows a positive long-term trend, but a negative

trend in recent years

63

Gradual increase

SRT Freight transport volumes

(Million ton)

!  Long-term positive

trend of annual 1.5% growth in freight

transport via rail !  However, recent

decline in freight activity during the past 8 years

!  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

!  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 03 04 05 06 07 96 95 94 93 92 91 1990 +1.5% 10 11 +4.9% 08 -2.8% 2012 +3.2% 09 02 01 2000 99 98 97

More rapid increase Decline in activity

Railway Industry

Thailand’s Railway Industry –

Overview and Opportunities for

Foreign Businesses

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Contents

▪

Thailand – Country overview and economic

outlook

▪

Overview of the Thai railway sector

▪

National Railway

Thailand is the 2

largest economy in ASEAN after Indonesia

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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

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

investment location in Asia with a very business-friendly environment

The overall infrastructure of Thailand is among the highest ranked in

Southeast Asia, with only rail infrastructure still lagging behind

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Thailand’s political system is a constitutional monarchy

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Opportunities – With strong FDI policies in place, Thailand holds many

opportunities for future foreign investments

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Risks – Despite various opportunities in Thailand, the country also faces

some challenges

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Contents

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Thailand – Country overview and economic outlook

▪

Overview of the Thai railway sector

▪

National Railway

The history of railway in Thailand goes back 123 years

Thailand’s rail system has continuously grown over time, and is about to

face another major expansion

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