SET-listed Sahakol Equipment Plc (SQ) is expanding its presence in neighbouring countries after winning a seven-year contract to operate a tin mine in Dawei in Myanmar.
Thai-registered Myanmar Pipat Co, a tin mine concessionaire in Dawei, has hired SQ under a contract worth 3.67 billion baht to carry out soil excavation, tin extraction, production and transport to produce 2,100 tonnes per year of tin concentrate, SQ chief executive Sasavat Sirison said on Friday.
He said he believed the site held reserves sufficient for at least three decades of mining.
The contract increases the value of the company's backlog of work in hand to record of 40 billion baht, he said.
The company is also carrying out two projects with the Electricity Generating Authority of Thailand at its Mae Moh coal mine in Lampang province, and one at the Hongsa coal mine in Hongsa province of Laos with Hongsa Power Co, a subsidiary of Banpu Power Plc. SQ will realise revenue continuously from the projects for 10 years, Mr Sasavat said.
SQ shares closed on Friday at 5.15 baht, up 21 satang or 4.2%, in turnover worth 408.4 million baht.