Thailand: TRC plans bid for pipelines

Thailand: TRC plans bid for pipelines

SET-listed TRC Construction Plc, an industrial and petrochemical pipeline
builder, plans to bid for two additional gas pipelines belonging to PTT Plc,
the oil and gas conglomerate, aiming to generate revenue growth in the
coming years.

Chief executive Pasit Leesakul said the two projects are worth 43.2 billion
baht and are expected to open for bidding this month and in the first
quarter of 2017.

The first PTT project is an 8.2-billion-baht, 119-kilometre overland
pipeline carrying natural gas from Ratchaburi province to Wang Noi district
in Ayutthaya province.

The second project is a 435km overland gas pipeline running from Rayong
province through Prachin Buri east of Bangkok, then north to Pathum Thani
and finally Ayutthaya. The project is expected to open for two phases of
bidding.

Mr Pasit said the company was granted a letter of award to construct a Asean
Potash Mining Co (APMC) project worth US$500 million, with $1 billion for
another potash factory.

In the third quarter of this year, the company had a total revenue of 1.2
billion baht, up 299 million baht from the same period last year when it had
total revenue of 870 million baht.

Net profit in the third quarter was at 63 million baht, rising by 49 million
baht from the previous quarter, he said.

Growth in third-quarter revenue was due to the development of a gas pipeline
from Saraburi to Nakhon Ratchasima province, which is a joint venture of
Sinopec and TRC.

Additional revenue also came from the construction of Asean Potash Mining Co
in Chaiyapum province, which began early this year.

Mr Pasit said the construction of the APMC project includes the preparation
and refurbishment of existing ground, as well as surface processing plant
and facilities -- together worth 855 million baht.

For the first nine months of this year, TRC posted a total revenue of 2.7
billion baht, up 136 million baht from the same period of last year, with
net profit of 157 million baht.

TRC shares closed yesterday on the Stock Exchange of Thailand at 1.49 baht,
up two satang, in trade worth 31.6 million baht.

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Link to Original Article:
http://www.bangkokpost.com/business/news/1155081/trc-plans-bid-for-pipelines

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John Diecker
APT Consulting Group Co., Ltd.

www.aptthailand.com