The long-delayed U-Tapao Airport and Eastern Aviation City development is poised to enter its construction phase next month, with the Eastern Economic Corridor Office (EECO) preparing to issue a Notice to Proceed (NTP) to U-Tapao International Aviation Co., Ltd. (UTA) on April 3.
The move will formally activate the project’s 50-year concession.
Puttipong Prasarttong-Osoth, president of Bangkok Airways Plc, said the scheme had faced delays exceeding five and a half years but has now cleared key hurdles, allowing work to commence. Once the NTP is granted, the concession period will begin, running through to 2076.
Under a revised first-phase agreement with the EECO, UTA will construct a third passenger terminal with an annual capacity of approximately 3 to 4 million travellers, reflecting adjustments made in response to post-pandemic demand conditions.
Currently, U-Tapao Airport handles roughly 300,000 to 400,000 passengers per year, making the updated initial capacity more aligned with present traffic levels.
The first phase will involve an investment of nearly 10 billion baht, covering the development of the new terminal and supporting infrastructure. Construction is expected to take between three and four years.
The project will move forward despite ongoing uncertainty surrounding the high-speed rail link intended to connect Thailand’s three major airports.
Future expansion will be implemented in phases once passenger volumes reach around 80% of initial capacity.
At that point, the airport will be scaled up progressively to accommodate 6 million, 10 million, and eventually 12 million passengers annually, with long-term plans supporting up to 60 million passengers over the life of the concession.
The broader U-Tapao Airport and Eastern Aviation City initiative carries an estimated value of 290 billion baht and is considered a flagship infrastructure project within the Eastern Economic Corridor.
The development is expected to enhance Thailand’s aviation and logistics capabilities while attracting further investment into the EEC.
UTA’s shareholder composition has also been revised. Bangkok Airways and BTS Group each hold a 40% stake, while Stecon Group retains the remaining 20%, according to the latest information.
