BlueScope Steel to install coating line in Thailand
According to recent news in the market, Australian steel producer BlueScope Steel plans to install a second metallic coating line at Map Ta Phut plant of the company in
Thailand.
The investment, which will cost A$80 million will be effected by BlueScope Steel's
Thailand division. With this installation, the capacity of Map Ta Phut plant will increase by 200'000 tons to 375'000 tons. Apart from metallic
coated products, the plant will also produce aluminium-zinc alloy
coated and zinc-
coated products.
The
construction of the line is scheduled to start in January 2004 and the line is expected to be completed by mid 2005.
The installation of the second metallic
coated line is considered to be necessary, in line with the increase in demand from
construction and
manufacturing markets in
Thailand together with the improvement of the economy of the country.
An official from BlueScope Steel stated that the investment is a part of company's plan of expanding its downstream value-added steel product business in Asia. Moreover, it is stated that through the Free Trade Agreement between
Australia and
Thailand, negotiations of which have been recently completed, Australian
investments in
Thailand will pick up speed.
Meanwhile, outlook of BlueScope Steel, largest steel company in
Australia and
New Zealand is revised as BBB+ by international credit rating institution Fitch, located in London. The rating is stated to be reflecting company's conservative capital structure and strong market position.