Thai Airways to Sign 50-Year Lease for 210-Rai MRO Site at U-Tapao, Starting 1 September

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Thai Airways International is set to sign a lease agreement for a 210-rai aircraft maintenance, repair, and overhaul project site at U-Tapao with the Eastern Economic Corridor Office on 4 August, with the contract start date set for 1 September 2026. The EEC secretary-general stated that the area is ready for handover to Thai Airways on schedule, and further details will be finalised, including inviting co-investors and applying for incentives. Thai Airways estimates the project investment value at approximately 13 billion baht, with construction to begin in 2027 and operations to commence in 2030 under a 50-year lease. The government will receive returns from a fixed land rental rate adjusted according to the Treasury Department rate, along with a stepped revenue-sharing arrangement. During years one to four, only land rent will be collected, and revenue sharing will begin when income is generated in year five, with a rate of 3 percent in years five to ten, 5 percent in years eleven to fifteen, and 7 percent from year fifteen onwards.

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