ADB to finance the deployment of electric ferry fleet in Thailand

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The Asian Development Bank (ADB) has signed a USD4.7 loan agreement with Energy Absolute Public Company Limited to finance the deployment of an electric ferry fleet as a form of mass rapid transport (MRT) in Bangkok, Thailand. Once operational, the E Smart Bangkok MRT Electric Ferries will be the first smart water transport system in SEA. The total financing approved includes a USD3.6 million concessional loan from the Clean Technology Fund as well as investments from the Japan International Cooperation Agency (JICA) and Export–Import Bank of Thailand (EXIM-Thailand). E Smart Transport Company Limited will operate 27 e-ferries along the Chao Phraya River. Each vehicle has the capacity to transport up to 250 passengers one way. The e-transport project is expected to offset around 18,900 tons of carbon emissions annually.