Shares of Italian-Thai Development (ITD), a one-stop service contractor, soared 18.06 per cent to 1.83 baht before falling slightly to 1.77 baht Wednesday morning, after the company signed a contract to construct a regional railway from the State Railway of Thailand.
ITD’s transaction value stood at 550 million baht, heavily traded compared to 45.3 million baht on Monday where it closed at 1.55 baht.
The statement, uploaded after trading hours on Monday, said that Italian-Thai will build Section 1 of the high-speed inter-regional railway, the stretch between Bangkok and Nakhon Ratchasima, under a cooperation between the Thai and Chinese governments.
The contract includes the construction of a high-speed rail depot in the Chiang Rak Noi area, including an operating control centre and track maintenance facilities.
The contract also mentions roadworks, drainage, and utility diversions. The project is worth 6.57 billion baht with the duration of work of 1,080 days, according to the statement.
Nawarat Patanakarn (NWR) and Unique Engineering and Construction (UNIQ) also jumped 14.86 per cent to 0.85 baht and 4.46 per cent to 5.85 baht, respectively, after each announced their own construction contracts with the State Railway of Thailand.
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