SET Announcements

Ch. Karnchang Plc. (CK) reported that it has joined hands with Billfinger & Burger Bauactien Gecelsaft, Ch Karnchang - Tokyu Construction Co., Ltd., and Tokyu Construction Co., Ltd. under a joint venture called JV BBCT to sign the 4th and 5th project management contract with the Bangkok Expressway Plc. (BECL). CK said the 4th contract is for design, construction, and management of the project to widen the pavement of expressway in part C from 2 to 3 lanes, back and forth. Expressway accesses will also be added. The project is worth not more than Bt3 billion, and is expected to be completed within 36 months from the construction commencement. The 5th contract is for design, construction , and management of the expressway project in part D (Rama 9 - Srinakarin). This project part, which is worth not more than Bt9.5 billion, will be a 3-lane elevated way, expected to be finished within 36 months from the date the construction begins. The two projects, together, are valued at about Bt12.5 billion. This is under the condition that the Expressway Authority of Thailand must hand over the right in posession of all the construction area to JV BBCT according to the agreements. JV BBCT has already signed in the mentioned contracts on April 17, 1997. The investment proportion is as shown below: 1. CK 59.98% 2. Billfinger & Burger Bauactien Gecelsaft 40.00% 3. Ch. Karnchang - Tokyu Construction Co 0.01% 4. Tokyu Construction Co 0.01% CK also added information about the estimated revenues to be relised from the two projects as follows: Year % of Revenue Realisation (Estimation) 1997 5 - 10 1998 40 - 45 1999 - 2000 45 - 55 Comment: Please verify details in Public SIMS. Translated by The Nation