Thailand welcomes steel investors

Nippon Steel JFE of Japan and Baosteel Group of China have expressed their interest in investing in upstream steel plants in Thailand, expected to invest Bt100 billion each, according to Board of Investment Secretary-General Satit Chajanavakul.

He expects each to require 5,000-10,000 rai of land to locate their giant plants which should produce at least 4-5 million tonnes of steel a year.

In the press conference on Friday, he admitted that the Eastern Seaboard is rather full and the projects are likely to be located in the Southern Seaboard. The new government will need to find the location the Southern Seaboard, where new industrial plants would be located.

At present, domestic steel demand is estimated at 12.5-13 million tonnes per annum. While 4.5 million tonnes are of premium grade for the automobile, electric, and canned food sectors, the rest are for construction purposes.

Satit is confident that following the election, more investment would flow into Thailand. The BoI expects the total applications for BoI investment incentives this year would be at least Bt500 million.

- The Nation

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Thailand welcomes steel investors

Nippon Steel JFE of Japan and Baosteel Group of China have expressed their interest in investing in upstream steel plants in Thailand, expected to invest Bt100 billion each, according to Board of Investment Secretary-General Satit Chajanavakul.

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