MCOT to develop US$335m broadcasting hub
Wednesday 10 Aug 2011
The majority state-owned broadcaster MCOT Plc will invest around 10 billion baht (US$335 million) to develop a 8.32-hectare plot of land into an advanced broadcasting hub for the region, Bangkok Post reports.
MCOT’s CFO Jessada Promjit yesterday outlined MCOT’s plan to utilise the land which the company bought in 2004 into one of the most advanced broadcasting complexes in Southeast Asia.
Construction will be divided into two phases. The first phase, which is expected to be completed within three years, comprises a 30,000-square-metre activity park, a 5,000-seat theatre, and a 59-floor building and broadcasting tower. It will cost 7-8 billion baht (US$234.7 milion-268 million).
The building when combined with the tower will be one of tallest structures in Thailand, at 369 metres.
Mr Jessada said the tower will serve broadcasters when the country’s broadcasts goes digital. “MCOT wants to act as a transmitter provider so other broadcasters don’t have to invest in their own networks,” he added.
The second phase, a building of 60,000 sq m, is being considered as a residential project.
The state enterprise expects its performance in the second half of the year to be better than the first half, thanks to higher airtime utilisation rates and a 10-15 percent increase of airtime fees in October. The company is still confident it can hit a revenue growth target of 10 percent this year.