Siam Cement PCL, Thailand’s biggest industrial conglomerate, said on Thursday it expected domestic cement demand to increase five per cent this year as the economy continued its recovery.
Demand for building materials had recovered since the fourth quarter, as had demand for packaging material along with a recovery in exports, Kan Trakulhoon, the conglomerate’s president, told reporters.
"We believe that the domestic economy will recover this year after we have seen confidence in the industrial sector improve in the past 10 months," Kan said.
"Cement is an indicator that the economy should expand and this year we see cement demand rising five per cent."
Siam Cement’s core businesses include petrochemicals, cement, paper and building materials.
The company was hopeful it would win approval from the courts to restart five projects at the Map Ta Phut industrial complex, Kan said.
Siam Cement has 17 projects at the world’s eighth-biggest petrochemicals hub in the eastern Rayong province and some are among 64 halted by a court injunction because of their companies’ failure to undergo health impact assessments, as required by law.