The city of Bangkok, following an initiative from the Royal Project Foundation, constructed King Rama VIII Bridge to ease the traffic congestion problems on Borommaratchachonnani Road, Pinklao Bridge, and Ratchadamnoen Road. King Rama VIII Bridge opened on 20 September 2012, and was designed with two primary inspirations:
- To commemorate King Ananda Mahidol by using the King's royal seal as an inspiration for the design of the bridge. The bridge’s construction is an impressive combination of modern engineering technology and Thai art.
- To commemorate King Ananda Mahidol by building the biggest memorial to the King. On this occasion, the city of Bangkok co-operated with the Fine Arts Department to design the statue. It took 18 months and Bt10 million to build, and the statue is located in Rama VIII Park.
Rama VIII Park is located on royal property in the area where the old Bang Yi Khan distillery was situated, on land that was expropriated by the government to construct Rama VIII Bridge. The park is 14 acres in size and the name "Rama VIII Park" was designated by King Bhumibol Adulyadej.
The budget for the construction of the park and the building enshrining the King's history was Bt150 million. The Bangkok Metropolitan Administration built the pedestal on which the statue would stand at the same height as the bridge to reflect the grandeur of the monument. The surrounding area is also elaborately decorated for the benefit of the people, so they can pay respects to the King and relax at the park.
On 9 June 2012, King Bhumibol Adulyadej, together with Queen Sirikit and Princess Sirindhorn, dedicated the statue and led a merit-making ceremony for King Ananda Mahidol.