FRIDAY, March 29, 2024
nationthailand

Ital-Thai expects to bag 25% of govt projects

Ital-Thai expects to bag 25% of govt projects

LISTED construction firm Italian-Thai Development Plc expects to bag at least 25 per cent of the total government infrastructure projects worth Bt600 billion that will open for bidding in the second half of this year till next year, company president Premchai Karnasuta said recently.

Meanwhile, its business overseas also has continued to expand, especially in CLMV countries (Cambodia, Laos, Myanmar, and Vietnam), he added.
He added that the company will join in bidding for more than 50 infrastructure projects worth up to Bt600 billion that will launch in the second half of this year and the next year and aims to bag at least 25 per cent of the total. This will boost its portfolio to achieve Bt400 billion this year, boosting total revenue growth to double digits this year.
“We believe the government will open bidding for more infrastructure projects this year and next year to develop the country’s infrastructure. This is an opportunity for us to boost our portfolio. This will also help us maintain total revenue growth this year and in the next five years benefiting from the government’s policy to develop the country’s infrastructure such as rail system, motorway, high-speed train, airport, port etc,” he said.
At the end 2016, the company had total revenue of Bt48.38 billion and net loss of Bt109.27 million. In the first quarter of this year, the company recorded total revenue Bt13.04 billion and net profit of Bt42.95 million, according to the company’s report to the Stock Exchange of Thailand.
Premchai said the company was expanding its business both at home and overseas to maintain growth, especially in CLMV countries where more investments are being made towards developing infrastructure projects. The company is also expanding its business in India, Bangladesh, Taiwan, Malaysia, Philippines and Maldives.
In CLMV countries, the initial phase of Dawei Special Economic Zone in Myanmar worth Bt37 billion, which was delayed since last year, will kick off within the second half of this year when the Myanmar government will sign a procurement contract this month. The company will also be booking revenue when the construction process kicks off, he said.
Meanwhile, in May this year, the company signed a contract with Dhaka Mass Transit Co Ltd for Bt22.8 billion to construct a mass transit system in Bangladesh.
Early this month, the company also has signed a contract for Bt792.23 million with the State Railway of Thailand for a track-strengthening project between Klong Sip Kao Station and Kaeng Khoi Station, and between Hua Ta Ke Station and Chachoeng Sao Station.
“Our domestic and overseas businesses have continued to drive growth for the long term,” he added.
 

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