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Italian-Thai Development

From Wikipedia, the free encyclopedia
Italian-Thai Development PCL
Company typePublic company
SET: ITD
IndustryConstruction
Founded1958; 67 years ago (1958)
FounderChaijudh Karnasuta and Giorgio Berlingieri
Headquarters
Bangkok
,
Thailand
Area served
Southeast Asia
Key people
Premchai Karnasuta (President)
Websitewww.itd.co.th

Italian-Thai Development Public Company Limited (ITD) is a construction company based in Bangkok, Thailand. Founded in 1958, it is one of the largest construction firms in the country, and is one of the two main contractors commonly hired for large-scale government projects, along with CH. Karnchang.[1][2] Among its past construction projects are Suvarnabhumi Airport, the original sections of the BTS Skytrain, the northern section of the original MRT Blue Line, and the northern extension of Don Mueang Tollway.[3][4]

In 2024, ITD announced heavy financial losses mainly from the failure of the Dawei Port Project in Myanmar, which led to a liquidity crisis and downgrading of its credit ratings.[5][6][7] Following the collapse of the State Audit Office building in the 2025 Mandalay earthquake, ITD is being investigated for its role as one of the two partners in the construction.[8][9]

History

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In 1954, Chaijudh Karnasuta, a Thai, and Giorgio Berlingieri, an Italian, collaborated in a venture to salvage five sunken ships. The two forged a relationship and they founded Italian-Thai Development (ITD) as a construction company on August 15 1958.[10]: 6  In 1994, the company was publicly listed in the Stock Exchange of Thailand[10][11] with a registered capital of 2,500 million Baht. The name of the company was subsequently changed to Italian-Thai Development Public Company Limited. ITD is responsible for the construction of the Suvarnabhumi International Airport which completed in 2006.[12]

As of 2016, the chairman is Krisorn Jittorntrum, with the director and president being Premchai Karnasuta.[10]

References

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  1. ^ "2 ยักษ์รับเหมา"อิตาเลียนไทย - ช.การช่าง"คู่สัญญารัฐอื้อ 3.4 หมื่นล้าน". Isra News Agency (in Thai). 16 April 2013. Retrieved 16 May 2025.
  2. ^ "3 ยักษ์ใหญ่ รับเหมาไทย ใครใหญ่สุด?". Longtunman (in Thai). 21 September 2017. Retrieved 16 May 2025.
  3. ^ "เจาะลึก "อิตาเลียนไทย" บ.รับเหมารายใหญ่ที่ขาดทุนหลายพันล้าน เพราะ "ลงทุนผิด ดอกเบี้ยกัดกินทุกปี"". BBC News Thai (in Thai). 11 April 2025. Retrieved 16 May 2025.
  4. ^ "ตำนาน อิตาเลียนไทย". Longtunman (in Thai). 8 February 2018. Retrieved 16 May 2025.
  5. ^ "Italian-Thai Development faces B108bn debt crunch as overseas projects fail". Bangkok Post. Bloomberg News. 14 March 2024. Retrieved 16 May 2025.
  6. ^ Regalado, Francesca. "Construction giant ITD adds to Thailand's corporate debt woes". Nikkei Asia. Retrieved 16 May 2025.
  7. ^ Regalado, Francesca (1 April 2024). "Thai construction giant's shares plunge 30% after $29.5m loss". Nikkei Asia. Retrieved 16 May 2025.
  8. ^ Wancharoen, Supoj; Yonpiam, Chairith (29 April 2025). "Investigators grill construction boss about collapsed Bangkok tower". Bangkok Post. Retrieved 16 May 2025.
  9. ^ Ngamkham, Wassayos (15 May 2025). "Arrest warrants issued for Premchai, 16 others over SAO building collapse". Bangkok Post. Retrieved 16 May 2025.
  10. ^ a b c "2016 Annual Report" (PDF). Italian-Thai Development Public Company Limited. Archived from the original (PDF) on 10 February 2018. Retrieved 9 February 2018.
  11. ^ "Italian-Thai Development Public Co., Ltd". Nikkei Asia. Retrieved 2024-02-06.
  12. ^ "Italian-Thai Development PLC". www.itd.co.th. Retrieved 2024-02-07.
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