SET-listed TRC Construction Plc will team up with China Railway Corporation (CRC) to bid for Thailand's rail development projects, expecting to capture a 10% share of the total project investment.
TRC chief executive Samai Leesakul said a new joint venture would be set up in which TRC, through its subsidiary Sahakarn, will own 40% and the Chinese firm the rest.
CRC is the national railway operator of China. It also operates rail commuter and freight transport via smaller companies.
"CRC is one of the biggest companies in China. It has specialised and new technology for rail transport construction, so we have a good partner to do the project," Mr Samai said.
TRC also plans to bid on a few other projects this year to double its backlog to 10 billion baht by year-end, he said.
The company projects revenue of 4 billion baht this year, up from 2.5 billion last year, with 20% growth in 2015.
"TRC expects a revenue surge in 2014 and 2015 driven by the government's planned infrastructure developments," Mr Samai said.
He said TRC also planned to invest more in renewal energy such as biogas to offset risks from the construction business.
In a related development, TRC yesterday signed a memorandum of understanding with Trans Thai-Malaysia Co to build an 890-million-baht incinerator for the latter in Songkhla province.
Construction is scheduled to take 21 months.
The company expects to sign up as many as three more new construction projects by year-end, raising its backlog to 10 billion baht.
Mr Samai said the company also expected to realise revenue from another big project in its third-quarter results, a provincial gas transmission pipeline from Saraburi to Nakhon Ratchasima provinces.
TRC shares closed yesterday on the SET at 4.04 baht, unchanged, in trade worth 17.3 million baht.