SET-listed contractor Nawarat Patanakarn Plc (NWR) remains confident that new construction jobs and megaprojects worth more than 1 trillion baht from the public sector will proceed, no matter who forms the next government.
Pasan Swasdiburi, senior vice-president for new business and strategic planning, said whoever sits in the next government will continue government construction jobs and megaprojects.
"Each political party wants to perform well, so they will move forward megaprojects and construction jobs from the government sector," Mr Pasan said. "We need stability from the new government."
This year Nawarat expects to have new construction projects worth a combined 18 billion baht, up from 13.9 billion from 13 projects last year, which exceeded its target of 13.8 billion.
In the first three months of 2019, Nawarat was awarded seven new construction projects worth a combined 1.95 billion baht, of which 89% consisted of infrastructure projects, said vice-president Visut Suwanwitwaj.
The construction sector last year grew by 3.4%, compared with GDP growth of 4.1% in 2018, according to the National Economic and Social Development Council.
In 2018, construction projects in the public sector rose by 1.9%, while those from the private sector grew by 4.1%.
Mr Visut said supporting factors for construction sector growth this year include good trends in consumer spending, a significant recovery in private investment and an acceleration in government investment.
Siam Commercial Bank's Economic Intelligence Center also reported the same trend. It forecast growth of 10% per year in construction value of government projects during 2019-2022, projecting 813 billion baht, 916 billion, 1.02 trillion and 1.08 trillion, in respective years.
Of those amounts, 164 billion baht, 248 billion, 335 billion and 373 billion are for transport network megaprojects.
Mr Pasan said the company is following construction projects worth a total of 82 billion baht. One-third are expected to be jobs worth more than 2 billion baht each.
NWR shares closed on Tuesday on the Stock Exchange of Thailand at 0.87 baht, unchanged, in trade worth 8.3 million baht.
