The Supreme Administrative Court upheld the order for 'BMA-Krungthep Thanakom' to jointly pay the BTS debt according to the contract for the Green Line extension 1-2, totaling 12 billion baht. The Supreme Administrative Court has upheld the Central Administrative Court's ruling that the Bangkok Metropolitan Administration and Bangkok Thanakom Company Limited must pay compensation to Bangkok Mass Transit System Public Company Limited (BTSC) for breaching the contract to pay for the service fee and maintenance of the Green Line electric train project in the first extension (Saphan Taksin-Bang Wa and On Nut-Bearing sections) and the second extension (Mo Chit-Saphan Mai-Khu Khot and Bearing-Samut Prakan sections) with interest, totaling 11,755,077,952.10 baht, Krung Thai Bank, from the date of the lawsuit until the payment is complete to BTS within 180 days from the date the case is finalized. The court reasoned that since the BMA has implemented the Green Line electric train project, the first and second exten sions, and assigned Bangkok Thanakom Company Limited, an enterprise in which the BMA holds 99.98 percent of the shares, to facilitate the operation of the BMA's public services, since Bangkok Thanakom Company Limited has outstanding debts under the contract to provide the service and maintenance of the Bangkok Mass Transit System With BTS in both Extension 1 and Extension 2, BMA must therefore be jointly liable for the debt with Bangkok Thanakom Co., Ltd. to BTS, in the amount of Extension 1 of 2,348,659,232.74 baht, together with interest on the principal of 2,199,091,830.27 baht, Extension 2 of 9,406,418,719.36 baht, together with interest on the principal of 8,786,765,195.47 baht, according to the interest rate for prime large customers in the term loan category (MLR) announced by Krung Thai Bank PCL, from the date of the lawsuit onwards until the payment is complete to BTS within 180 days from the date the case is finalized. .314.-Thai News Agency Source: Thai News Agency
Sunday, September 08, 2024