RT has unveiled its business plan for 2024, aiming for a revenue growth of 20% and an increase in net profit margin. The company plans to enhance construction efficiency, manage costs, and continue to secure government and private sector projects. Additionally, RT is looking to partner with business allies to expand its international operations while ensuring the timely delivery of ongoing projects, targeting a backlog of 8.3 billion baht and preparing an investment budget of 285 million baht for specialized machinery to further develop construction technology that reduces pollution within projects.

Mr. Chawalit Thanoonthin, Chief Executive Officer of Right Tunneling Public Company Limited (RT), a specialist in civil engineering, tunneling, and geotechnical engineering, revealed the business direction for 2024, aiming for a revenue growth of no less than 20% and an expected increase in net profit margin to 2-3%. The focus will be on project management strategies and continuously improving construction operational efficiency to ensure timely project delivery and revenue recognition.

At the same time, the company emphasizes cost management regarding material prices and construction labor, collaborating with construction partners to reduce costs and enhance operational capabilities. In the past year, the company has successfully improved cost management, resulting in better profit margins. For 2024, the company is preparing to bid on various construction projects in both the public and private sectors, expecting to secure a range of contracts, including tunnel construction, slope protection, and the conversion of overhead power lines to underground lines using HDD and pipe jacking methods. These infrastructure projects from the government aim to facilitate transportation and improve the quality of life for citizens, with the company targeting a backlog growth of approximately 8.3 billion baht this year.

The company recognizes revenue from ongoing construction projects, such as the dual-track railway project Den Chai-Chiang Rai-Chiang Khong, Contracts 1 and 2, the construction of the wastewater tunnel at Klong Thawi Watthana, the construction of the water conveyance tunnel along Klong Mahasawat, Contract G-TN-9A, the construction of the headwork dam and associated buildings for the Klong Pole Water Reservoir project in Rayong, the construction of the earth dam and associated buildings for the Klong Aeng Water Reservoir project in Trat, and the project to convert overhead power lines to underground lines along the Orange Line (Eastern) electric train route.

Additionally, the company plans to expand its construction operations internationally by collaborating with construction partners to increase opportunities for securing more projects. Currently, it has entered the area and begun construction on the hydropower plant at Luang Prabang, Laos.

As for the new investment plan this year, the company has set an investment budget of 285 million baht to prepare machinery and tools for upcoming projects. The company prioritizes improving construction efficiency by utilizing technology aimed at reducing pollution from construction activities, aligning with Thailand's goal of achieving carbon neutrality. Recently, the company has switched the lighting system in tunnels from fluorescent bulbs to LED lights and is working on a project to convert diesel trucks to electric systems for use in tunnel construction, developed in collaboration with Chiang Mai University. This system is currently in the testing phase and is expected to be implemented in construction areas this year.

“Although the overall construction industry this year faces challenges due to delays in budget preparation, impacting the value of public construction at the beginning of the year, various agencies still plan to present infrastructure bidding opportunities, which is a good opportunity. Coupled with the company's management capabilities, I believe we can achieve positive operational results,” said Mr. Chawalit.