Bina Puri’s JV company bags 7.7bn baht high speed railway contract in Thailand
Bina Puri Holdings Bhd, through its joint venture SPTK Joint Venture Company Ltd, has bagged a contract package worth 7.75 billion baht (RM1.04 billion) for the high speed railway project in Thailand.
Bina Puri, NPA Construction Co Ltd and Tim Sekata Sdn Bhd had entered into a joint venture agreement to form SPTK to undertake the project.
In an exchange filing today, the civil and construction company said the project connects regions in Bangkok–Nong Khai section (Phase 1 Bangkok-Nakhon Ratchasima section) with Khok Kruat-Nakhon Ratchasima section.
“With the latest contract, the group’s unbuilt book order stands at RM1.9 billion as at to date,” Bina Puri said.
State Railway of Thailand recently announced that SPTK was the successful bidder for the project.
The project is a cooperation between the Thai and Chinese governments.
Bina Puri executive director Datuk Matthew Tee said the construction sector had been hit the hardest with the sudden change in government and outbreak of the Covid-19 pandemic taking place one after another in the past year.
“Nevertheless, we will show continued commitment to do our best in these trying times especially by securing new projects in both local and overseas markets to ensure the income flow.”
“We are happy to announce that after many months of tendering and negotiating, we have finally secured another overseas contract from Thailand,” he said in a separate statement today.
The total length of the package is 13.68km, comprising a railway route measuring 12.38km.
It also involves the construction of a new station (Phu Kao Lat Station) and renovation of an existing station (Nakorn Ratchasima Station).
The scope of works includes earthwork, retaining wall, noise barrier, piling work, railway structures, building services, electrical and mechanical work, road work, piping and drainage work, and utilities.
He said Bina Puri first ventured into Thailand in 2003 to build access road for the Suvarnabhumi International Airport in Bangkok with contract value of more than RM180 million.
Bina Puri has completed a total of 26 projects valued at RM2.0 billion in Thailand since 2003.
Following this, the company secured a number of factory and warehouse construction works, as well as repair and upgrading works for the Malaysian Embassy Complex.
In 2006 onwards, Bina Puri (Thailand) Ltd, in a joint venture with Deva Property Public Co. Ltd, was awarded eight packages of the Baan Eua-Arthon housing projects by the National Housing Authority of Thailand.
This comprised more than 40,000 low-cost apartment units and some semi-D double storey houses with total contract value in excess of RM1.8 billion in the suburbs and various provinces in Thailand.
Apart from the low cost housing projects, Bina Puri also undertakes high rise condominium and apartment projects in Bangkok for a number of notable Thailand developers.
This included the S&S Sukhumvit Co Ltd and Areeya Property Public Co Ltd, with total more than 3,500 units completed, Tee said.
Source: https://www.nst.com.my/business/2020/10/630316/bina-puris-jv-company-bags-rm104bil-contract-thailand
