Thai companies eyeing Sri Lanka

The Thailand Trade Representative (TTR) will support small and medium-sized Thai construction companies seeking business opportunities in Sri Lanka, which requires investments of US$ 23.52 billion from now until 2017.

TTR officials will join 10 to 15 Thai construction companies in Sri Lanka from January 19 to 22 as part of its effort to encourage Thai companies to become more active abroad.

TTR President Kiat Sittheeamorn, said Thai construction companies are highly competitive in international markets because they have decades of experience in construction technology for high-rise buildings, infrastructure, and housing with attractive designs and decorations.

However, smaller Thai companies are still weak in competing for projects abroad so they need the government to help reduce obstacles, such as providing bank guarantees.

He said Sri Lanka needed to develop infrastructure such as expressways, highways, railways, water supply systems and housing projects.

Major projects in the next six years include 569 kilometres of expressways and highways estimated to cost $18.84 billion; widening of 4,900 km of existing highways at $1.33 billion; $185 million to reduce traffic congestion; $1.27 billion for rail transport, $1.9 billion for water supply, $526 million for power plants, and the development of 890,000 housing units.

Bangkokpost