Steel makers in Thailand gear up for tough fight to supply Yingluck’s US$70 billion infra spending

English: tata steel lake black and white effect

English: tata steel lake black and white effect (Photo credit: Wikipedia)

Steel makers in Thailand are guearing up for a tough fight to supply steel to Thailand’s infrastructure spending plan. The latest is Tata Steel Thailand, a subsidiary of India’s global giant Tata Group, saying it foresaw a high demand for its products due to the country’s planned $70-billion investment in infrastructure projects. President Peeyush Gupta said if the ambitious infrastructure projects were approved, his company “will stand to gain as all these projects need steel and cement”. “We will have two and a half years worth of extra demand being created over a period of seven years,” he said. Thailand plans to borrow 2.2 trillion baht ($70 billion) to finance four new high-speed train routes and extend mass transit lines in Bangkok. The Company was established on July 12, 2002 to be a holding Company pursuant to the merger of businesses among NTS, SISC and SCSC, last two of which were subsidiaries of Cementhai Holding Company Limited (“CHC”). The three companies operated the business of manufacturing long steel product. The aforementioned merger has been in compliance with NTS’s rehabilitation plan.

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