The post-war Sri Lanka, which needs the rapid development of infrastructure such as expressways, highways, railways, water supply systems and housing projects, is an opportune ground for the small and medium Thai construction companies, the TTR says.
TTR officials will join 10 to 15 Thai construction companies in Sri Lanka from Jan 19-22 as part of its effort to encourage Thai companies to become more active abroad, the TTR president Kiat Sittheeamorn has said.
According to Sittheeamorn although Thai construction companies are highly competitive in international markets because they have decades of experience in construction technology, smaller Thai companies are still weak in competing for overseas projects and need the government to help reduce obstacles, such as providing bank guarantees.
Sri Lanka requires investments of US$23.52 billion from now until 2017 to develop the planned infrastructure.
Major road projects include development of 569 kilometers of expressways and highways at an estimated cost of $18.84 billion and widening of 4,900 km of existing highways at $1.33 billion.
In addition there is a rising demand for new hotel constructions to increase the now available 15,000 rooms to 35,000 at an estimated cost of $186 million as Sri Lanka aims to increase foreign tourists to 2.5 million in 2016.
The TTR says that Sri Lanka's Board of Investment offers reduced tax incentives to investors in small-scale infrastructure with a minimum investment of $500,000 such as house construction, tourism projects, and water supply.
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