SET-listed TRC Construction Plc expects revenue to double this year to 8.5 billion baht from its current backlog and two major construction projects that are awaiting bidding results.
Chief executive Pasit Leesakul said its backlog and bids for gas and pipeline construction projects had the company projecting revenue of 8.5 billion baht, up from 3.88 billion last year. TRC has a backlog worth 5.5 billion, of which 4 billion will be realised as revenue this year.
Mr Pasit said it bid earlier in the year for two major construction projects — the extension of a gas pipeline to Nakhon Ratchasima worth 3 billion baht and the second phase of Trans Thai-Malaysian Ltd’s gas separation plant in Songkhla worth 2 billion baht.
He said bidding results were expected in June or July. These two projects will generate around 1.5 billion baht of revenue for TRC this year.
Mr Pasit said the company aimed to participate in the construction of PTT’s fifth gas pipeline worth 8-10 billion baht, which is believed to be up for bidding this year.
TRC is awaiting a construction contract for a potash mine in Chaiyaphum worth 34 billion baht, which it expects to be signed in the third quarter this year, he said.
The company is still looking for opportunities to invest in megaprojects this year to diversify into other businesses, Mr Pasit said.
TRC plans on investing in four megaprojects up to 2019, with the first the potash mine in Chaiyaphum, of which it owns a 25% share in operator Asean Potash Chaiyaphum Plc. The second is a co-investment in Thai Petroleum Pipeline Co’s pipeline to northeastern Thailand worth 10 billion baht, for which it has submitted an application.
In the first quarter this year TRC posted revenue of 1.1 billion baht, up 42.9% yearon-year, with net profit of 66 million.
TRC shares closed yesterday on the SET at 1.66 baht, up one satang, in trade worth 171 million baht.
SET-listed TRC Construction Plc expects revenue to double this year to 8.5 billion baht from its current backlog and two major construction projects that are awaiting bidding results.Chief executive Pasit Leesakul said its backlog and bids for gas and pipeline construction projects had the company projecting revenue of 8.5 billion baht, up from 3.88 billion last year. TRC has a backlog worth 5.5 billion, of which 4 billion will be realised as revenue this year.Mr Pasit said it bid earlier in the year for two major construction projects — the extension of a gas pipeline to Nakhon Ratchasima worth 3 billion baht and the second phase of Trans Thai-Malaysian Ltd’s gas separation plant in Songkhla worth 2 billion baht.He said bidding results were expected in June or July. These two projects will generate around 1.5 billion baht of revenue for TRC this year.Mr Pasit said the company aimed to participate in the construction of PTT’s fifth gas pipeline worth 8-10 billion baht, which is believed to be up for bidding this year.TRC is awaiting a construction contract for a potash mine in Chaiyaphum worth 34 billion baht, which it expects to be signed in the third quarter this year, he said.The company is still looking for opportunities to invest in megaprojects this year to diversify into other businesses, Mr Pasit said.TRC plans on investing in four megaprojects up to 2019, with the first the potash mine in Chaiyaphum, of which it owns a 25% share in operator Asean Potash Chaiyaphum Plc. The second is a co-investment in Thai Petroleum Pipeline Co’s pipeline to northeastern Thailand worth 10 billion baht, for which it has submitted an application.In the first quarter this year TRC posted revenue of 1.1 billion baht, up 42.9% yearon-year, with net profit of 66 million.TRC shares closed yesterday on the SET at 1.66 baht, up one satang, in trade worth 171 million baht.
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