The decision was made at the State Enterprise Policy Office meeting chaired by Prime Minister Prayut Chan-o-cha on Monday.
To clear 61.85 billion bath of its 100-billion-bath debts,the SRT will rent its prime Makkasan plot to the Finance Ministry for 99 years.
However,the Transport Ministry and Interior Ministry must first propose a law amendment to pave the way for the Finance Ministry to lease land for more than 50 years.
The ministry's Treasury Department will develop the land after the after the SRT hands ot over in two years.
The SRT hopes to break even in five years.