Published on 26/04/2013
Italthai Engineering bullish on renewable plant projects Italthai Engineering, a subsidiary of Italthai Group owned by the Karnasuta family, expects brisk business this year driven mainly by booming renewable energy. President Sakol Laosuwan said the company's revenue averaged 1.5-1.6 billion baht per year the past five years, but this year it expects to generate 4 billion because of several construction jobs the first four months, boosting its backlog to 3.8 to 4 billion baht. Some 1.6 billion will come from the construction of four solar plants, while 1 billion is slated for the construction of four sub-stations of the Metropolitan Electricity Authority. The rest will come from construction of a petrochemical plant and a building mechanical and engineering job. "Renewable energy plants will contribute 40% of revenue this year, up from 25% last year," he said. The 46-year-old contractor is also bidding for construction of a few solar plants and two wind farms with a combined production capacity of 250-300 MW and total construction value of 4 billion baht. Bidding will be finalised in two months. It is also keen on continuing its Asean expansion the next two years after entering Laos five years ago to construct gold mines. Laos still remains a viable target, while Myanmar is expected to need mechanical and engineering support for its hotel sector. "We're doing a survey on Asean markets as labour shortage is a problem in the region. In some countries, local regulations are different and unstable," he added.