Starting construction on Blue Line would help Thai steel companies but Japanese loans tied to using Japanese firms might break Thai laws
By Jon Fernquest
Bangkok mass
transit construction and tax incentives for
the real estate sector could increase local demand for steel this year
and help Thailand's steel industry. There is also still demand for steel coming from China and exports to China would amount to about 20% of steel production.
Thailand's steel industry has been in a slump.
Steel prices bottomed out in the fourth quarter of last year: "Hot-rolled steel is now trading at $US550-600 a tonne. The price peaked at $1,200 in the first half of last year in line with surging oil prices before plunging to below $400."
mass transit -
transportation for moving large numbers of people (subway, skytrain,
bus, train) การขนส่งมวลชน
incentives - rewards to encourage certain actions ผลตอบแทน
in a slump - business is bad, few orders or sales, little revenue ในภาวะย่ำแย่ ในภาวะตกต่ำ
prices bottomed out - prices reached their lowest point (did not go any lower) ราคาต่ำสุดที่เคยเป็นมา
price peaked - prices reached their highest point ราคาสูงสุด
surging oil prices - oil prices that suddenly increased a lot ราคาน้ำมันที่พุ่งสูงขึ้น
plunging - fall quickly by a large amount (ราคา) ร่วงหรือตกลงอย่างมาก
incentives - rewards to encourage certain actions ผลตอบแทน
in a slump - business is bad, few orders or sales, little revenue ในภาวะย่ำแย่ ในภาวะตกต่ำ
prices bottomed out - prices reached their lowest point (did not go any lower) ราคาต่ำสุดที่เคยเป็นมา
price peaked - prices reached their highest point ราคาสูงสุด
surging oil prices - oil prices that suddenly increased a lot ราคาน้ำมันที่พุ่งสูงขึ้น
plunging - fall quickly by a large amount (ราคา) ร่วงหรือตกลงอย่างมาก
Finance Minister Korn Chatikavanij said last week that the government would push forward four mass-transit projects as part of the 1.7-trillion-baht megaproject scheme.
These projects are the extended routes of the Green, Purple, Blue and Red lines in greater Bangkok, as well as the long-awaited landbridge project, which includes a deep-sea port and an industrial estate in the South.
For construction of the Blue Line the Japan International Cooperation Agency (JICA) had granted the Mass Rapid Transit Authority (MRTA) a loan of more than 79 billion baht with an interest rate of just 0.2%.
deep sea port - a
port that can handle very large ships ท่าเรือน้ำลึก
industrial estate - a specially equipped area where factories can be located นิคม หรือย่านอุตสาหกรรม
Japan International Cooperation Agency (JICA) - a government agency that coordinates official development assistance (ODA) for the government of Japan (See Wikipedia)
granted - officially gave ให ้ (เงินกู้)
Mass Rapid Transit Authority (MRTA) - the government agency that oversees the Bangkok subway (See Wikipedia) รถไฟฟ้ามหานคร
industrial estate - a specially equipped area where factories can be located นิคม หรือย่านอุตสาหกรรม
Japan International Cooperation Agency (JICA) - a government agency that coordinates official development assistance (ODA) for the government of Japan (See Wikipedia)
granted - officially gave ให ้ (เงินกู้)
Mass Rapid Transit Authority (MRTA) - the government agency that oversees the Bangkok subway (See Wikipedia) รถไฟฟ้ามหานคร
The Blue Line is among several state mass transit projects aimed at easing traffic congestion in the city. Better known as the MRT, or underground, it now operates between Bang Sue and Hua Lamphong. The 27-kilometre planned extension of the line will link Bang Sue and Tha Phra, and Hua Lamphong and Bang Kae. The route would give Thon Buri residents rail access to central Bangkok.
There may be further delays because details in the loan agreement with the Japanese: "some conditions require Japanese firms to play a key role in the construction. They also stipulate that at least 30% of the construction materials must be bought from Japan...the conditions might violate the 1999 act on bids....We will suggest the cabinet amend the loan conditions and allow for an interest rate higher than 1% - or we'll just look for a new loan source..."
play a key role - be
important in มีบทบาทสำคัญ
stipulate that Y - state clearly that action Y must be done (in an agreement or contract) (See glossary) ระบุไว้ชัดเจน
amend the loan conditions - change requirements of loan agreement เปลี่ยนเงื่ิอนไขในสัญญาเงินกู้
allow for Y - accept condition Y, if necessary ยอมรับเงื่อนไข
stipulate that Y - state clearly that action Y must be done (in an agreement or contract) (See glossary) ระบุไว้ชัดเจน
amend the loan conditions - change requirements of loan agreement เปลี่ยนเงื่ิอนไขในสัญญาเงินกู้
allow for Y - accept condition Y, if necessary ยอมรับเงื่อนไข
(Source #1: Bangkok Post, general news, 19-01-2009, Spending plans cheer steel firms, NAREERAT WIRIYAPONG)
(Source #2: Bangkok Post, general news, 20-01-09, Sopon seeks better deal on loan for rail project, AMORNRAT MAHITTHIROOK)
