SAMART Joins a Consortium to Acquire a ฿1.6bln. Construction Project from MEA!
The CONSORTIUM OF TEDA-ITE-STC has signed a ฿1.6 billion contract with MEA to construct Klong Dan Terminal Station.
Samart Corporation Public Company Limited (SAMART) has notified that TEDA Co., Ltd. (TEDA), a subsidiary which 94.35% stakeholding held by Samart U-Trans Co., Ltd., has signed a consortium agreement with Italthai Engineering Co., Ltd. and Sinohydro (Thailand) Co., Ltd. under the name of “THE CONSORTIUM OF TEDA-ITE-STC” in the proportion of 43:37:20.
The CONSORTIUM OF TEDA-ITE-STC has signed contract with Metropolitan Electricity Authority (MEA) for Construction of Klong Dan Terminal Station on December 21, 2018. Total value of the contract is ฿1,635,000,000.
The contract value ratio is as follows:
1. TEDA Co., Ltd. contract value ฿703,050,000
2. Italthai Engineering Co., Ltd. contract value ฿604,928,040
3. Sinohydro (Thailand) Co., Ltd. contract value ฿327,021,960
Scheduled completion date of this construction will be within April 4, 2022. Revenue are recognized using the percentage of completion method.
