Siam Cement , Thailand’s largest industrial conglomerate, said on Monday it expected cement sales of 17-18Mt in 2009, close to last year, thanks to the government’s stimulus package.
Domestic cement demand has picked up in the second half, which should mean overall consumption in Thailand of 24Mt this year, steady on last year, Pramote Techasupatkul, head of its cement division, told reporters.
"Despite the weak economy, the government’s packages have helped cement demand remain stable compared with last year," Pramote said, adding about 9-10 million tonnes of its forecast sales would be made in the domestic market and the rest exported.
The company forecast was better than it projected earlier. In July, Pramote told Reuters he expected domestic cement demand to fall 5-10 per cent this year.
The government’s stimulus packages should help cement demand show positive growth next year after downward pressure over the past three years because of the global financial crisis and domestic political instability, he said.
Cement sales account for about 17 per cent of Siam Cement’s total sales.