Asia Pacific Investment House (APIH) confirmed positive early indications for newly announced direct investment opportunity for the Long Luck Steel Manufacturing Mill in Bangkok.
The steel mill will be located across 40 acres of industrial estate in the Samutsakorn District, Zone 1 Bangkok. The mill’s annual production output projection is of 380,000 tons of steel billets and steel wire rod. It is expected to be fully operational by mid-2014.
According to the Iron and Steel Institute of Thailand (ISIT), compared to its ASEAN partners, Thailand has the largest steel market in the region. With local production only approximately 30% of demand, Thailand currently relies on exports potentially risking the quality and security of the supply chain. The Long Luck Steel Mill already has a buyer looking to purchase a minimum of 50% of the yearly total output produced.
Long Luck Group founder and director Wuttichot Hirunsearetumrong, said, “Our vision is to move towards fulfilling the demand for locally produced Steel and in turn fill the gap in the supply chain”.