Tata Steel Thailand Sees Increase in Steel Consumption in Thailand

Bangkok Post reported that Tata Steel Thailand’s total sales volume in April to December 2020 increased by 6.4% YoY to 937,000 tonnes, the highest record
Tata Steel Thailand Sees Increase in Steel Consumption in Thailand
Tata Steel ThailandHRM Asia

Bangkok Post reported that Tata Steel Thailand’s total sales volume in April to December 2020 increased by 6.4% YoY to 937,000 tonnes, the highest record since 2017. Tata Steel Thailand's revenue in in April to December 2020 decreased by 0.6% YoY to THB 14.89 billion, but profit before tax increased to THB 271 million, compared a loss of THB 21 million in April to December 2019.

Tata Steel Thailand expects steel consumption in its 2021 fiscal year April 2020-March 2021 will increase by 8% YoY to 1.29-1.30 million tonnes due to growing demand from state infrastructure investment projects. Tata Steel Thailand Chief Executive Mr Rajiv Mangal said "Thailand has market potential for steel products, especially high quality ones. The company is moving in the right way.”

Tata Steel Thailand said that the second-phase development of the Thai-Chinese high-speed train project will benefit its business this year. The company expects to win the bid in order to be a supplier for the project. The company earlier won a contract to supply 16,000 tonnes of steel to the first phase of the same project. Tata Steel Thailand is also negotiating with a contractor to supply steel products for another high-speed train project connecting three domestic airports under infrastructure development in the Eastern Economic Corridor.

The company expects infrastructure projects will boost steel consumption in Thailand, causing growth to 18-18.5 million tonnes in 2021.

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