The value of Thailand construction market is forecasted by GlobalData to grow by 2.1% in real terms in 2023, having decreased by 3.9% in 2022. A key growth market will be the infrastructure market, with output rising by 3.6% in real terms. GlobalData tracks and profiles all major construction projects from announcement to completion. For further insight on this market, buy the latest profiles here.
Here are the five largest construction projects initiated in Thailand during Q4 2023, according to GlobalData’s construction projects database.
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1. Laem Chabang Port Expansion: Phase III
The project involves the third phase of Laem Chabang Port expansion on 256ha of land in Chonburi.
Construction work started in Q4 2023 and is expected to be completed in Q4 2026.
It is the third phase of the Laem Chabang port project, which is a part of the Eastern Economic Corridor program. Buy the profile here.
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2. Rayong Electric Vehicle Production Facility
The project involves the construction of an EV production facilities with a capacity of 2,00,000 units per annum on 242.8ha of land in Rayong Province.
Construction work commenced in Q4 2023 and is expected to finish in Q1 2026.
The project aims to increase production capacity to meet the growing demand for electric vehicles in the region. Buy the profile here.
3. Jomtien Beach Resort
The project involves the construction of a resort in Bangkok.
Construction work started in Q4 2023 and is forecast to complete in Q3 2025.
4. Bangkok Semiconductor Manufacturing Factory
The project involves the construction of a 46,451.52m2 semiconductor manufacturing factory in Bangkok.
Construction work commenced in Q4 2023 and is expected to be completed in Q3 2025.
The project aims to manufacture power delivery systems for the semiconductor market. Buy the profile here.
5. Mahasawat Bridge Development
The project involves the construction of a 2.25km bridge on the Chao Phraya River at Sanambinnam Road, Nonthaburi Province.
Construction work started in Q4 2023 and is expected to be completed in Q4 2025.
For more details on the latest construction projects, buy the profiles here.
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GlobalData’s Construction Projects database tracks over 220,000 new construction projects valued at >$25m from announcement to completion across all countries and sectors.
