China-based steel manufacturing and trading group Delong Holdings Ltd has announced that its wholly-owned subsidiary Delong Steel Singapore Projects Pte. Ltd. (DSL) has entered into a joint venture agreement with three Thai-based companies, namely, Permsin Steel Works Public Company Limited (Perm), Asia Metal Public Company Limited (AMC) and Thai Yuan Metal Public Company Limited (TYM), to build a flat steel mill in Thailand.
The new steel mill will produce carbon structural steel, high quality carbon steel and low alloy steel with an annual production capacity of 600,000 mt. The construction of the mill is expected to be completed within 18 months. Total investment in the steel mill will amount to THB 1.4 billion ($42.9 million).