Magazines Archives - 2007 July
AOTs concessions at new Thai airport draw big players
THE Airports of Thailand (AOT) has released for bidding duty-free concessions at Bangkoks new Suvarnabhumi Airport, drawing key bidders such as Central Retail Corporation (CRC) of Central Group.
As one of the five largest Thai conglomerates, Central Group has business interests ranging from retail to real estate, hotels, resorts and food services. CRC alone is worth more than US$1.5 billion in value and is looking to expand its empire.
In 2005, Central Group placed a bid for concesssions alongside duty-free mogul King Power International Group and local companies Imperial Group and Master Mind Consultlant. King Power won the bid. Recently, however, AOT has revoked its concessions to the company due to allegations that the latter had breached contracts.
King Power group chairman and CEO Vichai Raksriaksorn reportedly said the group had spent a total of 20 billion baht (US$587.1 million) after clinching the 10-year master contract in 2005. As the warring parties gear up for lengthy battle, new operators seeking a place in Thailands duty-free scene may be delayed in their ventures, reported the local media.