Bangkok prepares for crippling flood
Source: Agencies |
October 12, 2011, Wednesday
|
Print Edition
Print Edition
THAILAND is counting the multi-billion-dollar cost of nationwide flooding that has killed nearly 270 people and may cause more havoc as waters threaten to engulf the country's capital.
Prasarn Trairatvorakul, governor of the Bank of Thailand, said a preliminary estimate by the central bank shows economic losses from flooding that began in late July range from 60-80 billion baht (US$1.9-US$2.6 billion).
That figure excludes damage to assets and reconstruction costs, and is expected to rise as floodwaters surge toward Bangkok, a city of about 10 million people. Some of its outlying areas are already under water.
Prime Minister Yingluck Shinawatra and Bangkok officials yesterday called on the city's residents not to panic as workers raced to complete three flood walls with only one or two days to go before the swollen river bursts its banks.
Shoppers have cleared supermarket shelves of basic items, such as rice, bottled water, pork and chicken. Flood damage to agricultural land in the country's north is expected to push up food prices, rice in particular.
The disaster is a further blow to Thailand's electronics and auto industries, which have just recovered from the production disruptions caused by the March 11 tsunami in Japan that knocked out suppliers of critical components. A dive in Thailand's auto production caused the economy to shrink in the second quarter.
The flooding is the worst to hit the southeast Asian nation in decades. About 8.2 million people in 60 of Thailand's 77 provinces have been affected by floods and mudslides, and 30 provinces are currently inundated. Prolonged monsoon flooding, typhoons and storms have killed hundreds of people across southeast Asia, China, Japan and southern Asia in the last four months.
Moody's Analytics economist Fred Gibson said economic losses from the flooding could swell if it spreads to the eastern seaboard province of Rayong, home to two-thirds of Thai industry.
Honda said its Thai vehicle production has been suspended after two industrial estates in the historic capital of Ayutthaya, north of Bangkok, were inundated. Local media reported that hundreds of new Honda cars were submerged.
Damage to the Saharattananakorn industrial zone in Ayutthaya was estimated by the central bank at 25-30 billion baht.
Officials at the Agriculture Ministry said 1.17 million hectares of rice fields might be damaged.
Prasarn Trairatvorakul, governor of the Bank of Thailand, said a preliminary estimate by the central bank shows economic losses from flooding that began in late July range from 60-80 billion baht (US$1.9-US$2.6 billion).
That figure excludes damage to assets and reconstruction costs, and is expected to rise as floodwaters surge toward Bangkok, a city of about 10 million people. Some of its outlying areas are already under water.
Prime Minister Yingluck Shinawatra and Bangkok officials yesterday called on the city's residents not to panic as workers raced to complete three flood walls with only one or two days to go before the swollen river bursts its banks.
Shoppers have cleared supermarket shelves of basic items, such as rice, bottled water, pork and chicken. Flood damage to agricultural land in the country's north is expected to push up food prices, rice in particular.
The disaster is a further blow to Thailand's electronics and auto industries, which have just recovered from the production disruptions caused by the March 11 tsunami in Japan that knocked out suppliers of critical components. A dive in Thailand's auto production caused the economy to shrink in the second quarter.
The flooding is the worst to hit the southeast Asian nation in decades. About 8.2 million people in 60 of Thailand's 77 provinces have been affected by floods and mudslides, and 30 provinces are currently inundated. Prolonged monsoon flooding, typhoons and storms have killed hundreds of people across southeast Asia, China, Japan and southern Asia in the last four months.
Moody's Analytics economist Fred Gibson said economic losses from the flooding could swell if it spreads to the eastern seaboard province of Rayong, home to two-thirds of Thai industry.
Honda said its Thai vehicle production has been suspended after two industrial estates in the historic capital of Ayutthaya, north of Bangkok, were inundated. Local media reported that hundreds of new Honda cars were submerged.
Damage to the Saharattananakorn industrial zone in Ayutthaya was estimated by the central bank at 25-30 billion baht.
Officials at the Agriculture Ministry said 1.17 million hectares of rice fields might be damaged.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
