ITD-NWR Edge Higher as Joint Venture Has Strong Chance to Win Chiang Rai Rail Link

The share price of Italian-Thai Development Public Company Limited (ITD) rose ฿0.22/share or 7.75% to ฿3.06/share as of 11:04 local time in Thailand, with a trading value of 696 million baht.

Meanwhile, the share price of Nawarat Patanakarn Public Company Limited (NWR) rose ฿0.09/share or 6.92% to ฿1.39/share with a trading value of 185 million baht.

 

The significant increase in the share prices of both ITD and NWR in the morning session of Tuesday, June 8, is expected to be due to the ITD-NWR Joint Venture, comprised of Italian-Thai Development (ITD) and Nawarat Patanakarn (NWR), has a strong chance of success the bid for three contracts of the Denchai-Chiang Rai-Chiang Khong double-track railway construction project, according to informed sources.

As previously announced, NWR and ITD jointly signed a contract with the Metropolitan Waterworks Authority on May 27, 2021, for the construction of water tunnels along Ratchapruek Road from Khlong Maha Sawat to Petchkasem Road with related work Contract G-TN-9B. The total contract value is 4,014,300,000 baht (VAT included) (ITD portion 51% = 2,047,293,000 baht and NWR portion 49% = 1,967,007,000 baht ). The project is expected to be completed within 1,095 days from notice to proceed.