Construction industry worth Bt1.4 trillion: TCA

Construction industry worth Bt1.4 trillion: TCA

By The Nation

The construction industry has reached a net worth of Bt1.4 trillion, said the Thai Contractors Association (TCA), adding that the association would keep expanding development projects and managing contracts more effectively.

“We are promoting the use of innovation and technologies in construction, such as building information modelling,” TCA president Angsuras Areekul said.

“The industry this year is expected to maintain growth due to a number of positive factors, especially the government’s transportation infrastructure and condominiums along Skytrain stations,” he said.

Angsuras said the TCA is aware of many problems which need immediate attention, including labour shortage. 

“We need to recruit and train labourers for more effective, skilled performance, and improve the quality of materials that are failing QC inspection, such as steel,” he pointed out. “Moreover, we will promote the invention of environmentally friendly construction materials. Many organisations are providing solutions related to eco-friendly construction materials, such as Siam Cement’s plan to reduce waste at construction sites,” he added.

“Overall Thailand’s construction industry is showing good signs of growth and we expect it will increase opportunities for contractors."

Growth is expected to increase by 6.5 per cent compared to the previous year. Government projects are likely to contribute Bt815 billion, while Bt560 billion will come from private sector projects.

“Another important factor aiding industry growth is investment in various areas of the Eastern Economic Corridor,” he said.

Meanwhile, Deputy Transport Minister Thaworn Senneam said the government’s mega construction projects would be beneficial for the private sector, especially those related to rail, sea freight and airfreight since these will help boost product logistics as well as tourism. 

“Moreover, the construction of Suvarnabhumi Airport phase 2 will essentially help relieve the congestion in both Don Muang and Suvarnabhumi airports. The government is also readying more airport expansion projects, to be carried out by 2024, covering 10 airports nationwide,” Thaworn said.

Source: https://www.nationthailand.com/news/30377157