Siam Cement , Thailand’s biggest cement maker, said on Tuesday its cement sales would fall 5-6 per cent this year as a slowing domestic economy hurt demand.
"Our cement sales this year should fall by five to six percent from the 18Mt of last year," cement division chief Pramote Techasupatkul told reporters.
Domestic cement consumption would fall by about five percent from last year’s 28-29Mt and the company aimed to boost cement exports to growing markets such as India, he said.
Domestic cement consumption growth is usually about 1.5 times GDP growth. Thailand’s economy is expected to grow 4.5 per cent this year after 5.1 per cent growth in 2006, according to the National Economic and Social Development Board.
Last month, Siam City Cement , the second largest cement firm, said it planned to cut production from January due to slowing domestic economic growth and the absence of major infrastructure projects.