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Thai conglomerate says high-speed rail on track to success

Despite daunting costs, CP Group eyes lucrative real estate development along line

Construction progresses on Bangkok's Bang Sue Grand Station, which will serve as a hub for the high-speed rail line linking three airports. (Photo by Akira Kodaka)

BANGKOK -- Thailand has officially awarded the contract to build a high-speed rail line connecting three airports to a consortium led by Charoen Pokphand Group, the country's largest conglomerate, despite CP possessing minimal expertise in trains.

The first section of the 224.5 billion baht ($7.42 billion) project is due to open in 2023.

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