ITD's survival risk eases as water megaprojects offer a way back
A 172-billion-baht flood canal is coming to bid The Cabinet is set to approve the Chai Nat–Pa Sak flood diversion canal, worth about 172 billion baht. Analysts say ITD is likely to win contract packages, which would refill an order book that has shrunk for one to two years.
This is the biggest new demand driver that could actually put work back into ITD's backlog.
A second water megaproject keeps the pipeline alive Asia Plus says a 165-billion-baht water management programme will help contractors over the medium to long term, naming ITD for earthworks and drainage. Construction is expected from 2027, though funding, land and bidding timing are still open questions.
It reinforces that ITD sits in the frame for large state water work, a real counterweight to its troubles.
Founder Premchai hands over the top job Premchai Karnasuta retired as CEO on 1 October 2026 and his son Thoranis took over. The change comes with ITD still loss-making — a 5.78-billion-baht loss in 2024 and 11.15 billion baht of accumulated losses — so it is a fresh start, not a fix.
A leadership change at a troubled company matters to investors, but by itself it does not repair the finances.