Fast Market Research recommends "Thailand Infrastructure Report Q4 2013" from Business Monitor International, now available
Boston, MA -- (SBWIRE) -- 11/27/2013 -- Construction growth in Q213 has taken a dip, to reach 5.0%, confirming our view that growth in the Thai construction sector could decelerate from the heights seen in 2012 despite a relatively conducive monetary environment and a robust project pipeline. As such, we are maintaining our full-year construction forecasts for 2013 and 2014, with construction real growth reaching 5.2% in 2013 and 4.5% in 2014. This deceleration is primarily due to delays in implementing several initiatives intended to spur infrastructure development and the limited potential for growth in the residential and non-residential building sector.
Key developments in the country's infrastructure industry include:
- In August 2013, the Electricity Generating Authority of Thailand (EGAT) revealed plans to construct a new high-voltage transmission line worth THB60bn (US$1.92bn) to serve the southern region of the country. The authority would secure a formal approval from the board for the extension of its 500 kilovolt transmission line from Bang Saphan district, Prachuap Khiri Khan, to Surat Thani and Phuket. The southern region is facing inadequate electricity supply, so a new transmission line from the central region is essential, according to outgoing EGAT Governor Sutat Patmasiriwat. The transmission is expected to be in service in 2019, provided the board approves the investment, Patmasiriwat added.
- In September 2013, Japanese company Mitsubishi Heavy Industries (MHI) secured a full-turnkey contract from Khanom Electricity Generating Company (KEGCO), a subsidiary of Electricity Generating (EGCO), for the construction of a 977MW gas-turbine combined-cycle (GTCC) plant in Thailand's Nakhon Si Thammarat province. The GTCC plant will include two blocks of 488.5MW power-generation units. Both blocks are expected to go live in June 2016. The plant will have dual-fuel specifications supporting both natural-gas and diesel combustion. The plant will mainly consist of two Mitsubishi M701F5 gas turbines, two steam turbines and two generators. MHI and KEGCO have also entered into a long-term service agreement for the plant. Electricity Generating Authority of Thailand has signed a long-term power purchase agreement, under which it will purchase the output generated by the plant.
- In August 2013, the Mass Rapid Transit Authority of Thailand (MRTA) approved the construction plan for a monorail line in the country from Khae Rai to Lam Salee. The THB45bn (US$1.4bn) project involves the construction of a 21.6km route, dubbed the Brown Line, having 22 stations. The plan was scheduled to be submitted to Thailand's transport ministry for approval in early September. The project design is expected to be completed by 2016, with auctions scheduled in 2017. The project's construction work is expected to be completed in 2021.
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