State Railway of Thailand acting governor Voravuth Mala poses near a decommissioned locomotive at the SRT office as the authority prepares for its so-called ‘new chapter’ to revitalise its operations. (Photo by Pawat Laopaisarntaksin)

The State Railway of Thailand (SRT) is pushing ahead with an investment plan to turn railroads within 500 kilometres of Bangkok into an electric system, according to SRT's acting governor Voravuth Mala.

He said the plan for the the rail system around Bangkok to go electric, which is estimated to cost about 30 million baht per km, is divided into two phases involving changes of the signalling system to ETCS (European Train Control System) level 1. The first phase involves 250km of routes around Bangkok and the second involves the next 250km of rail routes.

Mr Voravuth said the SRT will have to replace diesel locomotives with electric engines and diesel multiple unit trains with Electric Multiple Unit rail cars and procurement plans will be drafted in line with the transition.

The plan to electrify the railroad is in line with the development of the Red Line's electric commuter rail network being developed by the SRT. The 26km Bang Sue-Rangsit route with 10 stations will be opened along with the Bang Sue Central Station in early 2021.

Valued at about 30 billion baht, the station is part of the Red Line's 80-billion-baht network.

According to Mr Voravuth, the project is expected to break even in two or three years after the commercial launch when the total of daily passengers is estimated to rise to 80,000. A subsidiary to operate the Red Line network is likely to be set up within two months.

Bidding for the planned extension of the Red Line from Rangsit to Thammasat University's Rangsit campus is expected to take place this year and the SRT has a plan to extend the route north to Ban Phachi in Ayutthaya.

However, he said when the Bang Sue Central Station first opens in 2021, it will serve only the Red Line route while all long-haul and suburban trains running on diesel engines will go to Hua Lamphong station.

The SRT will speed up switching from diesel-powered to electric-powered trains and when all routes are transferred to the Bang Sue Central station, Hua Lamphong will be developed into a depot for the Red Line system, he said, adding that the property will be turned into a railway museum or a hotel.

Commenting on the SRT's financial heath, Mr Voravuth, who is also deputy governor in charge of asset management, said the rail agency's earnings before interest, taxes, depreciation and amortisation are expected to reach zero in 2023.

He said the debt-ridden SRT has rolled out revival plans, debt servicing, and new railway projects to turn the situation.