The delegation inspected the redevelopment of the Phuket Deep Sea Port and a nearby land development project, both aimed at boosting tourism and economic potential on state-owned land.
The first stop was the improvement project at Phuket Deep Sea Port, covering 105 rai in Wichit, reported the Ministry of Finance.
The site, registered under Treasury land plot number ภก. 308 (partial), is being developed into a dual-purpose facility serving both large cruise ships and cargo transport. The project is in line with government policy to enhance Thailand’s tourism infrastructure and logistics capabilities, the ministry noted in its report of the visit.
According to Deputy Minister Paopoom, the Treasury Department launched a public bidding process in 2016 to attract private investment for the port’s development. Bidders were required to propose a project worth at least B116.89 million and offer no less than B139.5mn in concession fees over a 30-year lease term.
Phuket Deep Sea Port Co Ltd emerged as the successful bidder, offering a total concession fee of B345mn and a development value of B132.86mn.
The project is expected to generate combined returns of B678.41mn for the state over the three-decade period.
The company has been operating under contract number 1/2561 since May 2018, with the Treasury Department overseeing compliance to ensure the port is equipped to serve cruise passengers and cargo operations effectively, the ministry noted.
The delegation also visited a second project involving the development of Treasury land plots ภก. 293-294 in Ratsada, covering nearly nine rai.
The land was opened to private development through a public auction in 2005. Baan Jaisai Co Ltd won the bid and proposed a project valued at B68.59mn, along with a B1.7mn concession fee.
The project has since evolved, with the Treasury Department approving an extension for construction and a revised plan to better suit the intended use. As of April 2025, construction progress stood at 87.5%, with a total investment value of approximately B236.07mn. The company has been authorised to continue construction until June 30, 2025.
Deputy Minister Paopoom noted that both projects are part of the Ministry of Finance’s broader strategy to maximise the value and utility of state-owned land.
“These developments not only generate revenue for the state but also contribute to public benefit by enhancing infrastructure and supporting local economic growth,” he said.