Thai Polycons Public Company Limited (SET: TPOLY) announced on October 26, 2022, that the company had terminated the construction contract with Y.S.S.P. Aggregate Company Limited.
The contract for the construction is the provision of raw water for the production sector in Rayong Area, the Raw Water Pumping Station, Raw Water Distribution, Pumping Station, Control Building and Raw Water Supply Piping laying in Rayong Province Phase 2.
The contract value is THB 1,251,694,132.00 with a period of construction of 306 days.
The company stated that the termination was due to the volatility of construction material costs, the rise in labor costs, and the increase in oil prices have affected the project, the contractor, and the suppliers’ break-even point.
The contract was awarded to TPOLY in March this year.
