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4 years ago
Thailand names winners for $9.5 bln flood management work
June 18, 2013 / 11:11 AM / 4 years ago

Thailand names winners for $9.5 bln flood management work

BANGKOK, June 18 (Reuters) - Thailand has selected four winners for water management projects worth around 290 billion Thai baht ($9.5 billion) aimed at preventing a repeat of devastating floods in late 2011.

The flooding cut Thailand's economic growth to just 0.1 percent in 2011 but the water projects and other infrastructure work are expected to drive the economy in the next few years.

"Contracts are expected to be signed in August or September," government spokesman Teerat Ratanasevi told reporters after a cabinet meeting on Tuesday.

The government had managed to push prices down by a combined 6.1 billion baht from the original offers, he said, without breaking down where the savings came.

Korea Water Resources Corporation will get two contracts worth a total of 163 billion baht for floodway construction.

A consortium led by Italian-Thai Development Pcl won five of the nine contracts with a bid of 109 billion baht.

The Summit SUT Joint Venture that groups unlisted Thai contractors won one contract worth 13.9 billion baht. It will manage city planning and land use in 17 river basins throughout Thailand.

A consortium led by Thai company Loxley won one contract for data storage and warning systems worth 3.9 billion baht. ($1= 30.74 baht) (Reporting by Kitiphong Thaichareon and Pairat Temphairojana; Writing by Orathai Sriring; Editing by Alan Raybould and Richard Borsuk)

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