Thailand approves $402 million high-strength steel wire project with Chinese support

The Thai Investment Board (BOI) has announced that it has approved an investment of 13 billion baht ($402.10 million) for a high-strength steel wire production project. The plant will be located in the Rohan Industrial Park in Chonburi Province and is intended primarily for the tire industry.

Project scope and production capacity

The facility will have an annual capacity of about 260,000 metric tons and will produce steel cord, side wire and steel wire. The project will be implemented by Xingda Steel Cord (Thailand), a subsidiary of Jiangsu Xingda Steel Wire Co., Ltd., one of the world's five largest manufacturers of industrial steel wire.

Strategic impact on the domestic industry

According to BOI, the plant is expected to support Thailand's automotive and infrastructure sectors. The expansion of local production of high-strength steel wire will also reduce dependence on imports.