The Treasury Department plans to introduce a land development scheme worth 70 billion baht within the next 1-2 years.

The Treasury Department's land development scheme worth 70 billion baht will be ready for investment within the next 1-2 years, says director-general Amnuay Preemonwong.

The scheme constitutes four large-scale projects and 200 small-scale projects.

Among the large-scale projects is land development at the Government Complex on Chaeng Watthana Road in Zone C, which will be proposed to the cabinet for approval tomorrow. The project is worth 26 billion baht. If approved, the next step is to hire consultants to manage the project.

The design of the 600,000-square-metre Zone C building is expected to take around 10 months and cost about 300 million baht for the design phase. Construction is projected to take about four years.

Mr Amnuay said financing for the project will come from Dhanarak Asset Development Co, a state enterprise under the Treasury Department, with the company issuing four-year bonds. Upon completion, when the government offices have moved to Zone C, Dhanarak Asset Development bonds are to be converted into securitised bonds that are backed by the rental contract of the government offices.

Another project is the Queen Sirikit National Convention Center renovation, worth 10 billion baht, to be built by concessionaire Charoen Sirivadhanabhakdi Group. The concession contract will likely be signed by the end of December 2018 or early January 2019, he said.

Mr Amnuay said the existing one-storey building will be dismantled for construction of an eight-storey building that can accommodate different exhibitions.

The original building was not designed to accommodate exhibitions, but rather as a conference centre for World Bank meetings. Design and construction of the new convention centre, which will accommodate shows with large machinery, is expected to take about three years.

The third large project is the old Mor Chit Bus Terminal, spanning 63 rai and worth 26 billion baht. The cabinet recently approved the contract for Bangkok Terminal Co and gave the company 18 months to design the project and propose it, as well as conduct an environmental impact assessment.

Bangkok Terminal must present these details to the Bangkok Metropolitan Authority before the cabinet signs the contract.

Construction is expected to take four years for a mixed-use building consisting of a hotel, department store, skytrain station and bus terminal.

The final project is Roi Chak Sam land development, consisting of a custom house on five rai along the Chao Phraya River at Charoen Krung Soi 36, worth 3 billion baht. N-Park has been granted a land lease for the site, and an attorney is reviewing the contract before submission to the cabinet for approval. The cabinet will most likely approve the contract by the end of this year, and after it is signed, construction is scheduled to take four years, Mr Amnuay said.