Thai conglomerate says high-speed rail on track to success

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

20191025N Thai High Speed Rail

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)

YOHEI MURAMATSU and MARIMI KISHIMOTO, Nikkei staff writers

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.

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