Fast Market Research recommends "Thailand Infrastructure Report Q2 2013" from Business Monitor International, now available
Boston, MA -- (SBWIRE) -- 05/24/2013 -- BMI View: We believe that the factors supporting our bullish outlook for Thailand's construction sector in 2012 - namely, the implementation of flood prevention measures, robust building construction activity and conducive monetary conditions for construction - will spill over in 2013. Combined with increased access to infrastructure financing and a large pipeline of construction projects, we believe that construction real growth could reach 5.2% in 2013. However, we do not expect construction activity to increase as rapidly or as significantly as the Thai government expects. This is because of labour and material shortages, the country's deteriorating fiscal position, business environment issues and the potential for political turmoil.
Key developments in the country's infrastructure industry include:
- In February 2013, Thailand had approved the six parties selected by the Water and Flood Management Commission to enter the find bidding stage for the projects under Thailand's long-term water management and flood prevention plan. The six parties consist of 31 companies. According to Bloomberg, 12 of them are foreign companies and 19 of them are Thai companies. The six selected groups have until April 2013 to finalise their designs for the tender, with the successful bidders chosen in the same month. There are a total of 10 projects, with six of them located in the Chao Phraya River Basin and worth THB300bn.
- In February 2013, French conglomerate Alstom was awarded a US$305.3mn engineering, procurement and construction contract by EGAT to develop the 850MW North Bangkok combined-cycle natural gasfired power plant block 2. Alstom will carry out the project in association with Japan's Sumitomo and will supply two GT26 gas turbines, turbo generators, heat recovery steam generators, steam turbines and distribution control system. This will be the world's first combined-cycle power plant with the company's upgraded GT26 gas turbine.
- In February 2013, the Thai government announced plans to allow up to 30% of transport projects to be carried out under a private-public scheme, reports the Nation, citing a statement by the State Enterprise Policy Office (SEPO) on January 28 2013. The government will make investments in infrastructure and the private sector will invest in the rolling stock of the railway system as part of the plan. The government is likely to make a direct investment of 70% of the planned infrastructure scheme worth THB2.27trn (US$76.1bn) for seven years, while the remaining 30% will be invested by the private sector, according to SEPO Director General Prasong Poontaneat. The transport and finance ministries are preparing the project details.
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