Rail body seeks cut in B37bn payout billThe State Railway of Thailand (SRT) will pay the entire 11.88 billion baht in compensation to Hopewell Holdings, as ordered by the Supreme Administrative Court, but will negotiate for a reduction in the interest payment, Transport Minister Saksayam Chidchob said on Wednesday. After failing in its bid for a retrial, the SRT will seek a loan to compensate the contractor over the failed rail project, Mr Saksayam said. However, the agency will negotiate for a reduction in the interest on the payment, which will be made in installments. The compensation set at 11.88 billion baht is subject to annual interest of 7.5%, adding up to 37 billion baht in total. Saksayam: Loan needed to pay billMr Saksayam said the ministry will launch lawsuits against former staff and executives involved in the Hopewell saga's decision-making process.

Source: Bangkok Post October 09, 2019 21:33 UTC