Siam Cement to invest $344m in ASEAN
Siam Cement Group (SCG), Thailand’s top industrial conglomerate, is set to invest more than $344 million to expand its business in ASEAN, with the biggest investment being a greenfield cement plant in Laos for $312 million.
President and chief executive Kan Trakulhoon said on April 30 that SCG’s board has approved its plan to build a cement factory in Laos with maximum capacity of 1.8 million tonnes per year, the Bangkok Post reported.
Located in Khammouane province, the plant will start operating in the second quarter of 2017 to serve growing demand in the Greater Mekong Subregion. The cement market in Laos is estimated at 2.8 million tonnes this year, with expected growth of 5-10 per cent over the next 10 years.
SCG exports more than 100,000 tonnes of cement per year to the GMS, Trakulhoon said. Another investment is for production of Glassine paper at 60,000 tonnes per year from 2016.
About $16 million will be spent for a 33 per cent stake in a joint venture in Italy to produce ceramic tiles under the Cotto brand from early 2018.
In the first quarter of 2014, SCG posted revenue of $3.8 billion, up 11 per cent year-on-year, with growth reported in all business units. Net profit dropped 5 per cent to $262 million due to foreign exchange adjustments from the chemical business.
SCG expects its sales revenue will beat the forecast and will adjust its projection for the running year of $15 billion. The specific amount will be revealed at a later date.
Sales from its cement and construction materials business in Thailand decreased 8 per cent due to weak demand in the construction sector.
“Without a functioning government, there are no projects from the public sector to drive demand for cement,” Trakulhoon said
Siam Cement Group (SCG), Thailand's top industrial conglomerate, is set to invest more than $344 million to expand its business in ASEAN, with the biggest investment being a greenfield cement plant in Laos for $312 million. President and chief executive Kan Trakulhoon said on April 30 that SCG's board has approved its plan to build a cement factory in Laos with maximum capacity of 1.8 million tonnes per year, the Bangkok Post reported. Located in Khammouane province, the plant will start operating in the second quarter of 2017 to serve growing demand in the Greater Mekong Subregion. The cement market...
Siam Cement Group (SCG), Thailand’s top industrial conglomerate, is set to invest more than $344 million to expand its business in ASEAN, with the biggest investment being a greenfield cement plant in Laos for $312 million.
President and chief executive Kan Trakulhoon said on April 30 that SCG’s board has approved its plan to build a cement factory in Laos with maximum capacity of 1.8 million tonnes per year, the Bangkok Post reported.
Located in Khammouane province, the plant will start operating in the second quarter of 2017 to serve growing demand in the Greater Mekong Subregion. The cement market in Laos is estimated at 2.8 million tonnes this year, with expected growth of 5-10 per cent over the next 10 years.
SCG exports more than 100,000 tonnes of cement per year to the GMS, Trakulhoon said. Another investment is for production of Glassine paper at 60,000 tonnes per year from 2016.
About $16 million will be spent for a 33 per cent stake in a joint venture in Italy to produce ceramic tiles under the Cotto brand from early 2018.
In the first quarter of 2014, SCG posted revenue of $3.8 billion, up 11 per cent year-on-year, with growth reported in all business units. Net profit dropped 5 per cent to $262 million due to foreign exchange adjustments from the chemical business.
SCG expects its sales revenue will beat the forecast and will adjust its projection for the running year of $15 billion. The specific amount will be revealed at a later date.
Sales from its cement and construction materials business in Thailand decreased 8 per cent due to weak demand in the construction sector.
“Without a functioning government, there are no projects from the public sector to drive demand for cement,” Trakulhoon said
