Construction firm Demco aims to bid for additional projects worth Bt4 billion this year over and above the current backlog of Bt7.24 billion to ensure 50-per-cent revenue growth.
Managing director Pongsak Siricupta said last week that the company has a backlog worth Bt7.24 billion, excluding its recent bid for state agency and private projects worth a combined Bt4 billion.
The company expects to secure no less than 20 per cent of these projects, he said, and added that it is confident of achieving the revenue target of Bt5 billion this year or grow no less than 50 per cent from last year.
He said the company has also started realising revenue from the Huai Bong 3, a joint-venture wind-power project. Construction has progressed more than 70 per cent, and work is expected to be completed next month.
The electricity output from the project is expected to be received by the Electricity Generating Authority of Thailand (Egat) in October-November this year. The Huay Bong 3 has a production capacity of 103.5 megawatts.
The company is also constructing the Huay Bong 2 wind project, with a capacity of 103.5 megawatts. The output from the project is expected to be received by Egat in February next year, he said.
According to the contract with Egat, Demco will sell electricity output from the two projects totalling 180MW. The two projects are located on 5,000 rai in Nakhon Ratchasima province.
The company has realised revenue from the construction of the wind project and a solar farm project since the first quarter this year. The renewable energy construction is a key driver of revenue this year, he said.
Demco’s net profit in the first quarter this year soared by 188 per cent year on year to Bt79.13 million and revenue rose to Bt1.45 billion, a 104-per-cent gain compared to the same quarter last year.