STEC Jumps 4% after Acquiring a ฿6.2Bn Construction Contract for Government Complex

The share price of Sino-Thai Engineering and Construction Public Company Limited (STEC) rose ฿0.50/share or 4.35% to ฿12.00/share as of 16:19 local time in Thailand with a trading value of 251 million baht. 

 

The increase in share price was expected due to the acquisition of a ฿6.2Bn contract for the north building project of the Government Complex.

 

STEC has announced that the company has signed a new contract with Dhanarak Asset Development Co., Ltd for The Government Complex Commemorating His Majesty the King’s 80th Birthday Anniversary, 5th December, Zone C, North Building project with a contract value of 6,245,697 baht.

 

The work includes north building, reinforced concrete building 11 floors and 2 basements level including structural, architectural and MEP works and atrium building with 2 floors and 2 basements level. The project is to be completed within 840 days.