The Thailand Board of Investment (BOI) has announced that it has approved a THB 13 billion ($402.10 million) investment for a high-tensile steel wire manufacturing project. The plant will be located at Rojana Industrial Park in Chonburi Province and is designed to primarily serve the tire industry.
Project scope and production capacity
The facility will have an annual capacity of approximately 260,000 metric tons and will manufacture steel cord, bead wire, and steel wire. The project will be executed by Xingda Steel Cord (Thailand), a subsidiary of Jiangsu Xingda Steel Wire Co., Ltd., one of the world’s top five industrial steel wire producers.
Strategic impact on domestic industries
According to the BOI, the plant is expected to bolster Thailand’s automotive and infrastructure sectors. The expansion of local high-tensile steel wire production will also reduce reliance on imports.
