JR is pushing for the transitioning of two Electrical Cable projects “MRT Yellow Line-Pink Line” with two phases in total amount of 6,994 million baht. The company is also ready to submit a bid in a new project in the category of electricity, along with oil and gas in order to increase its revenue and grant an attractive dividend to shareholders.
Mr. Jarun Wiwatjesadawut, CEO of J.R.W. Utility Public Company Limited (SET: JR), revealed that the company has been informed about the starting date of the transition project of power cable to underground from Sino-Thai Engineering & Construction Public Company Limited (SET: STEC), the employer. There are two projects with the total amount of 6,994.08 million baht (VAT excluded) as followings:
- Construction project on changing the Air Electrical Cable to Underground Electrical Cable along the MRT Yellow Line Phase 2 (Lam Salee junction – Theparak Road) with total cost of 3,087.95 million baht (VAT excluded).
- Construction project on changing the Air Electrical Cable to Underground Electrical Cable along the MRT Pink Line Phase 2 (Khlong Thanon – Ramkhamhaeng Road) with total cost of 3,906.13 million baht (VAT excluded).
Mr. Jarun added that both constructions are large-scale projects with a total amount of almost 7,000 million baht. Meanwhile, the company has a backlog at the end of Q3/2023 at 9,963 million baht. The revenue from its backlog will be recognized within 3-5 years, and the company will keep engaging for newer bids, including electrical system installation and oil and gas in order to generate strong revenue in the long term, aiming for sustainability and attractive dividend for the shareholders.
In addition, the company’s overview in 2023 is on the growing curve. The distinctive investment from the government and private sector helps the company to obtain bigger projects. The CEO expected continuous growth until 2024.