Thailand: SCG upbeat after nod for six projects

Thailand: SCG upbeat after nod for six projects
Published: 04 March 2010

Siam Cement Group, the country’s largest industrial conglomerate, foresees a brighter outlook for its projects in the Map Ta Phut area following the Central Administrative Court’s nod for six SCG projects to resume construction work.

President and CEO Kan Trakulhoon yesterday said the company was confident that the projects approved by the Central Administrative Court a few weeks ago would operate smoothly in compliance with constitutional law.

The six SCG projects allowed to resume construction include the production-capacity expansion phase of Siam Polyethylene, the plastic-pellet production project of Thai Polyethylene and the methyl-methacrylate production project of Thai MMA.

Kan added that despite the bright outlook for the projects in the Map Ta Phut area and the continuous recovery in the construction industry since the last quarter of 2009, SCG forecast demand growth for cement at not less than five per cent this year.

Pichit Maipoom, president of SCG Building Materials, said the revenue growth of his company this year was likely to reach 15 per cent, higher than the target of 10 per cent. It posted revenue of THB26bn in 2009 after merging with Quality Construction Products.