The success of a joint operation in 1954 in salvaging five ships sunk in the Chao Phraya River led to a strong friendship between Dr. Chaijudh Karnasuta, a Thai, and Mr. Giorgio Berlingieri, an Italian. They together founded Italian-Thai Development Corporation Limited (ITD) on 15 August 1958 with an initial registered capital of 2 million Baht. The company grew steadily and became publicly listed in the Stock Exchange of Thailand in 1994 with a registered capital of 2,500 million Baht and with the name changed to Italian-Thai Development Public Company Limited. Further growth to this date (2009) has brought the registered capital of the company up to 5,871.15 million Baht with 4,193.68 million Baht paid up.

             After the sad passing of Mr. Giorgio Berlingieri in December 1981, ITD has been under an all-Thai management led by the Karnasuta family members together with a strong team of competent Thai managers and engineers.

            The financial crisis starting in Thailand in 1997 dealt a big blow to almost all of the Thai companies. ITD was no exception and had to undergo a Business Rehabilitation process which was successfully carried out on 16 December 2002. That event turned out to be a foundation for a firmer growth of the company. At the year-end of 2003 ITD's turnover of that year was 18,330 million Baht making ITD the largest infrastructure construction company in Thailand and one of the largest in Southeast Asia . New contracts obtained in 2003 totalled 7,896 million Baht resulting in the total value of work in hand of 39,971 million Baht for that year.