Millcon Steel is planning to increase its billet production capacity by 200,000 mt to 800,000 mt annually, or 33 percent. Its two facilities presently produce 250,000 mt in Bangkok and 350,000 mt in Rayong for a total of 600,000 mt.
Pravit Horungruang, acting CEO and President of Millcon Steel, said the new capacity upgrades should be complete in the next two years. The increased capacity is planned to support construction projects associated with the Eastern Economic Corridor (EEC) government program.
Millcon also plans to increase the production capacity for steel bar used in construction and premium steel products used in the automotive sector. Pravit added that Millcon plans to export steel billets to Indonesia, Vietnam and the Philippines to support their construction sector growth.
Millcon Steel Public Co. Ltd. manufactures and trades steel products. Its products include steel bars, hot rolled and cold drawn round bars, hot rolled coil, slitting coil, steel sheet, flat plate, and steel pipe. The company was founded on July 31, 1998 and is headquartered in Bangkok, Thailand. For the six months ended June 30, 2018, on company basis, the company announced net profit of THB 105,329,000 (US$3.1 million) against THB 151,395,000 (US$ 4.6 million) a year ago.
Millcon also plans to expand its JV in Myanmar. The plant produces 48,000-60,000 mt annually.
USD = THB 32.98 (Nov 13)