Sahakol Equipment Public Company Limited (SET: SQ) has informed the Stock Exchange of Thailand that following the company’s selection as the winner of the bidding for Overburden and Coal Mining Services at Mae Moh Mine Contract No. 8/1 (2 Items), with a total contract value of 7,170 million baht, as announced on November 8, 2024. Mr. Pirapan Salirathavibhaga, Deputy Prime Minister and Minister of Energy, has suspended all procurement activities related to the Mae Moh Mine Contract No. 8/1 pending an investigation into the matter, following an appeal by another bidder.
In response to this matter, SQ has clarified that it has fulfilled all the qualifications and compiled strictly with the rules and procedures for submitting proposals for the Overburden and Coal Mining Services at Mae Moh Mine Contract No. 8/1 (2 Items), as specified in the Terms of Reference (TOR) provided by the Electricity Generating Authority of Thailand.
SQ has submitted a complete and thorough technical proposal based on the readiness of machinery, manpower, and work experience. Moreover, the price proposal has been prepared within the average price that can be realistically implemented, ensuring practical feasibility and an appropriate project return rate based on the operations of a public company, carefully considering the interests of all stakeholders, social responsibility, environmental, and good corporate governance.
These practices align with the company’s operational standards for all its previous projects.
Furthermore, SQ has confidence that the Electricity Generating Authority of Thailand is a leading state enterprise that operates on principles of excellent corporate management, good governance, and a consistent focus on the nation’s best interests.
