Thailand’s Millcon Steel forms steel production JV in Thilawa SEZ

Visual from the Millcon Steel website, August 2015

Thailand based steel producer, Millcon Steel Plc (Mill) will be forming a joint venture with  Thai and Myanmar partners to invest $15 million in a steel plant at the Thilawa special economic zone.

The total annual capacity of the steel production unit will be 90,000 tonnes per year,

According to Bangkok post, the joint venture is 45 per cent owned by Millcon, with Thailand based General Engineering Public Company Limited (GEL)  holding 45 per cent and Myanmar local partners having the balance 10 per cent stake.

GEL, which was established in 1962, is a pioneer in field of pre-stressed concrete piles and other concrete products manufacturing. The Myanmar partner is the JV – THIHA Co- is a trading company.

The steel production for the plant will be ready for the market by the end of this year. At present Millcon has a capacity production of steel 850,000 tonnes a year.

Sittichai Leesawadtrakul , president and chief executive said Millcon said that this was the first Thai steel plant project in Myanmar and will to serve the rising demand of steel in the growth economy of  Myanmar.

Currently, the steel consumption in Myanmar averages two to three million tonnes a year.

“The steel consumption in Myanmar has started to grow after the government announced several infrastructure project and the private investment increased in projects like shopping malls, housing and the building offices ” he said.

The company plans to expand the capacity of steel plant in the future.

Millcon expects a 15 per cent growth in revenue this year, up from 10.5 billion baht last year. It expects a further boost in revenue during the second half of this year due to increased in government spend on infrastructure projects.

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In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

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  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
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