Charoen Pokphand Group (CP), a Thai conglomerate, and BTS Holdings Plc (BTS), the operator of the elevated metro in Bangkok, are reportedly expected to submit their bids for the airport link rail project construction in Thailand.

Reports cite, the rail would be linking nation’s three major international airports – namely the U-Tapao International Airport, Don Mueang International Airport, and the Suvarnabhumi Airport (Bangkok Airport) – estimated at 220 billion baht ($6.8 billion).

According to a report by Bloomberg, the airport link project – one of the biggest transportation project in Thailand’s history – is an integral part of the military government’s infrastructure agenda after it took power in May 2014. The Eastern Economic Corridor Office, the agency overlooking the plan, stated that over 31 firms, most of them from China, Thailand and Japan, have been studying the project’s terms.

Acting Governor of State Railway of Thailand (SRT), Voravuth Mala stated that the department expects bids from two groups, at the very least, as over 31 companies had purchased the Terms of Reference (TOR) documents. Mala further added that once the bids have been received, it would take approximately a month for considerations before a bid can be picked.

Reportedly, the SRT is open to adopting a high-speed rail-technology and is not inclined toward any specific technology or nation. However, investors would have to showcase the advantages of the selected technology.

Comprised of Charoen Pokphand Holding, China Railway Construction Corporation Limited, CITIC Group Corporation, Japan’s JOIN, Bangkok Expressway & Metro, Italian-Thai Development, China Resources, Siemens, Ferrovie dello Stato Italiane, Hyundai, JBIC and CRRC-Sifang, the CP-led consortium has a high chance of being selected.

A group headed by BTS Group Holdings would also be joining the bidding process and has partnered with Ratchaburi Electricity Generating Holding Plc and Sino-Thai Engineering & Construction Plc for the same.

Reportedly, bidders can also look for new investors who could join the project at a later date, however, they must be the ones who did purchase the TOR document.