Strega keen to expand role abroad

Cambodia Construction News Laos Myanmar Vietnam

Like other construction companies, Strega Plc, a horizontal directional drilling (HDD) contractor, is keen on business prospects in neighbouring countries where the potential for infrastructure projects exists.

“We plan to tap opportunities in Cambodia, Laos, Myanmar and Vietnam as a priority in 2015,” chief executive Trin Pimhatavoot said.

The company is preparing to list on the Stock Exchange of Thailand in mid-2015.

Once it mobilises funds through the Thai capital market, its financial resources should be strong enough to support its expansion into other Asean members.

“We must prepare our financial resources before expanding our capacity in more projects, and we need more funds to be able to bid for larger-scale projects,” Mr Trin said.

He said these countries had vast room for construction companies, particularly those specialising in infrastructure and utilities projects such as Strega.

Bangkok-based Strega, established in 1999, provides a wide range of construction services, specialising in underground utility installations and replacements using HDD methods.

The company installs underground cables, conduits and pipelines nationwide and typically serves as a subcontractor for government utilities and enterprises including PTT Plc, the Metropolitan Electricity Authority, the Provincial Electricity Authority and TOT Plc.

In the first nine months of this year, the company recorded revenue of 400 million baht, up by 362% year-on-year.

It took in revenue of 160 million baht for all of 2013.

Mr Trin declined to disclose this year’s growth target but said: “The company projects full-year revenue will grow tremendously, as in the fourth quarter we expect massive revenue from a completed project.”

Strega hopes to win more new projects next year from the government’s 2.4-trillion-baht investment plan, he said.