Posted 11/14/2023, 9:51:27 AM
Thailand Proposes $28 Billion Canal to Bypass Malacca Strait, Cut Shipping Times
- Thailand pitching $28B project to bypass busy Malacca Strait, cutting shipping times and costs
- New land route would connect Indian and Pacific Oceans, replacing old canal proposal
- Ports to be built on east and west coasts, linked by rail and highway
- Project aims to be completed by 2030, with foreign investors allowed majority stakes
- Thailand pitching to U.S. investors during APEC summit as cheaper, faster shipping route