SRICHA backlog 3.9 billion baht, targeting recurring income and Middle East

Earnings
โดย HoonSmart·TH·Read original
Summary · why it matters

Sriracha Construction (SRICHA) disclosed a backlog of 3,900 million baht from Thai Oil's Clean Fuel Project (CFP). The project has an original contract value of 7,800 million baht, plus additional work of 600 million baht, totaling 8,400 million baht. Revenue recognized up to the second quarter amounts to 4,500 million baht, with potential for additional work at the end of the contract. Meanwhile, the company is extending the Ambatovy project in Madagascar into maintenance and operational support, generating recurring income. Over the past three years, revenue from this project totaled 614 million baht, and the company sees recurring income playing a larger role in its strategy. Additionally, it is tracking new opportunities both domestically and internationally, such as petrochemical plants in Rayong, power plants, LNG plants in Canada, Mozambique, and Papua New Guinea, as well as an alumina plant in Guinea. It has also begun business negotiations in the Middle East, particularly Bahrain, Saudi Arabia, and Qatar, but these are not yet included in the backlog or revenue estimates, pending investment clarity after the resolution of conflicts.

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Thai Oil Public Company Limited
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Thai Oil is only referenced as the client whose Clean Fuel Project underpins SRICHA's backlog, with no new development of its own.

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