Thai Gov to Take Majority Stake in Bangkok Transit System

The Thai Government is expected to approve the purchase of a majority stake in Bangkok's Mass Transit System (BTS) elevated commuter rail network at a weekly cabinet meeting tomorrow.

Prime Minister Samak Sundaravej says the government is also likely to approve investment in nine railway projects, which will be overseen by a specially formed committee, Dow Jones reports.

Sundaravej says the Ministry of Finance will acquire up to 89 percent of the BTS from its debtors and will extend service to cover the outskirts of Bangkok over three years.

By staff writer