Bangkok, 3 transportation agencies ‘Department of Highways – Expressway Authority – Railway’ assesses ITD’s situation despite lack of liquidity. Still not worried Indicating that all projects are still proceeding normally.
From the problem of Italian-Thai Development Public Company Limited (ITD) lacking financial liquidity. Until the payment of employees’ salaries was delayed, ITD shares were posted by the Stock Exchange with the SP sign, temporarily prohibiting trading in listed securities. From March 1, 2024 because the financial statements ending December 31, 2023 were not submitted on time. By ITD there are 25 Projects all over the country Both public and private projects and has a total of more than 20,000 employees, of whom approximately 3,000 – 4,000 are foreigners.
Mr. Sarawut Songsiwilai, Director-General of the Department of Highways (DPWH), revealed that from news published that ITD is experiencing serious liquidity problems. Most recently, there was a problem with delayed payments to contractor
s, affecting salary payments. Wages for employees and construction workers in the large project area in the Eastern Economic Corridor (EEC), the Highway Department has been informed. But as far as internal auditing is concerned Haven’t found any abnormalities yet. or reporting a problem from the company All contract construction is still carried out according to the steps and timelines.
For the Department of Highways, ITD has accepted work on 2 projects, namely the construction project of Special Highway No. 82, Bang Khun Thian – Ban Phaeo elevated road, Ekachai – Ban Phaeo section, section 7, distance 1.435 km. Currently, progress is 31.5074%, 13% later than planned, expected to be completed. on June 14, 2025 and the elevated road construction project on Highway 35, Thonburi – Pak Tho (Rama 2 Road), Bang Khun Thian – Ekachai Interchange Section 3, Samut Sakhon Province, distance 1.653 km., budget 2,491 million baht. Currently progress is 91.753%, 8.347% slower than planned. It is expected to be completed on
15 Nov. 2024.
Mr. Surachet Laophunsuk, Governor of the Expressway Authority of Thailand, said that in terms of the Expressway Authority Italian-Thai has 1 contract together, which is the Rama 3 – Dao Khanong – Western Ring Road Expressway Project, Contract 3, construction of a 6-lane elevated road from Bang Pakok Hospital. 9-Dan Dao Khanong Operated under the name of ITD-VCB joint venture with Vijitphan Construction Co., Ltd. worth 6,877 million baht, which currently has not encountered any problems from the contractor’s lack of liquidity. In addition, from following up on the work, it was found that Italian-Thai way and partners Promised to expedite construction. Two more large steel beams will be added to the construction and will be completed in time for June 2025. When asked if Italian-Thai has a liquidity problem? Is there a support plan that will affect important projects? The Governor of EXAT replied that Still don’t know about this. And there haven’t been any problems yet.
A news source from the Sta
te Railway of Thailand (SRT) said that there has been no major impact on construction related to trains, and most recently ITD just completed construction of the first phase of the double track railway between Hua Hin – Prachuap Khiri Khan, a distance of 84 km, which was completed. At the beginning of 2023, there is now construction work remaining on the new double track railway line from Den Chai – Chiang Rai – Chiang Khong, Contract 1, distance 103 km, jointly with Naowarat Pattanakarn PLC. where construction is continuing Haven’t found any problems yet. As for the three Thai-Chinese high-speed rail contracts, they are moving forward as planned. But from the news that has appeared, the SRT itself is trying to expedite the disbursement of funds related to this project. To support the Italian-Thai route from lacking liquidity. And if there really is a problem You can call to talk. But right now, any disbursements are still normal.
Previously, Mr. Suraphong Piyachote, Deputy Minister of Transport, stated this
matter. Things that the Ministry of Transport can help with are: Accelerate the payment of construction compensation (K value) as the company has the right to receive. But you have to look at the details of the compensation for work. What is each contract like? and must wait for Mr. Suriya Therefore, Rungruangkit Minister of Transport Returned from a mission abroad and then went to look at the details of each contract again.
Source: Thai News Agency