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To fulfill the demand, Milcon has to advance their steel capacity

SET-recorded steel maker Millcon Steel Plc is wanting to expand its creation ability to 800,000 tons for each year joined at its two plants in Bangkok and Rayong areas to serve both household and fare request. Joined limit at Millcon's two offices is 600,000 tons for each year, with the Bangkok plant delivering 250,000 tons and the Rayong plant 350,000 tons. Pravit Horungruang, acting CEO and president, said Millcon is setting up a financial plan for the new limit, hoping to spend from one year from now. "The new limit overhauls ought to be finished in the following couple of years," he said.

At home, new megaprojects, especially in the administration's leader Eastern Economic Corridor (EEC) plot, are set to amplify steel request. The EEC is required to pull in new venture streams to the development division. Millcon additionally plans to expand the creation limit with regards to steel bar and premium steel items. Steel bar is to serve the development part, while premium steel items supply the nation's car segment. Thailand devours approximately 3 million tons of steel bar every year.

Mr Pravit said Millcon is in chats with the Myanmar government about new venture for a steel manufacturing plant in Myingyan, in Mandalay. In 2016, Millcon collaborated with two Myanmar organizations to put resources into a US$2-million (397 million baht) plant to create steel items for development to take care of rising demand there. Millcon possesses a 45% stake in this joint endeavor, Millcon Thiha Co, while General Engineering Co holds another 45% stake, and Thiha Group 10%. The plant is situated in Myanmar's Thilawa exceptional financial zone, with benefits including a 75-year arrive rent and import and fare duty exclusions. The plant produces 4,000-5,000 tons for each month, serving Myanmar.

"Myanmar has fast development in its economy and development division, so present limit is inadequate for that showcase," he said. For fares, Millcon intends to extend to new abroad markets, concentrating on Asean, Europe and Oceania. It hopes to build send out deals from 10% of its income to 15% in 3-5 years. "We intend to send out steel billets to Indonesia, the Philippines and Vietnam, where the development segments have a considerable measure of potential," said Mr Pravit.

• [Editor:janita]