CONSTRUCTION FIRMS have expressed strong interest in bidding for infrastructure projects worth up to Bt1.4 trillion in the final quarter of the year.
"When the government opens bidding for 18 or 19 infrastructure projects worth up to Bt1.4 trillion, all constructor firms will take part, which will double construction business growth compared to the second half of last year," said Sangworn Liptapanlop, president of the Thai Construction Association under Royal Patronage.
When the government opens bidding in the final quarter, it will initially be releasing a budget of around 10 per cent of the total project value for investment, he said, adding that this would be a major shot in the arm for construction industry growth in the second half, especially in the final three months of the year.
The Economic Steering Committee meeting last week estimated that investment worth Bt66 billion out of the total budget of Bt1.4 trillion would be injected into the economy when 18 or 19 infrastructure projects are opened for bidding between October and December.
Sangworn said the construction industry normally had a market value of between Bt300 billion and Bt400 billion a year from the both public and private sector, but if the infrastructure projects kicked off as expected later this year, the sector would see its growth double in the second half - while the construction industry would
likely experience annual growth of more than 20 per cent from 2017 to 2020.