Thailand unveils $28 bn Landbridge project to link Asia-Pacific with India & Middle East
Thailand introduces a groundbreaking $28 billion initiative, the Landbridge project, to significantly reduce shipping times between the Indian and Pacific oceans by bypassing the congested Malacca Strait. Prime Minister Srettha Thavisin projects a four-day reduction in travel times and a 15% decrease in shipping costs. The plan involves constructing seaports on either side of Thailand's southern peninsula, connected by extensive highway and rail networks, replacing the previous proposal to dredge a canal through the Kra Isthmus. With the Malacca Strait expected to surpass its capacity by 2030, Thavisin emphasizes the project's role in ensuring a seamless flow of goods and providing a cheaper, faster, and safer alternative to the vital but congested maritime corridor. The proposed ports aim to handle 19.4 million and 13.8 million tonne equivalent units (TEUs), constituting about 23% of the Port of Malacca's total cargo.