Siam Cement Group (SCG) has said it would spend more than half of its THB200bn investment budget for 2012-16 in the ASEAN region.
Speaking to the Bangkok Post, SCG president and CEO Kan Trakulhoon said: “A market with 601 million people and a need for infrastructure development is promising.’
The move reflects the shift of major investment to Asean after as much as 70-80 per cent of SCG's investment spending focused on Thailand from 2006-10. SCG is in talks in the region for petrochemical, cement, construction materials and paper investments.
In terms of its cement business, the group has set its sights on the Myanmar market, where political and economic changes are opening opportunities. Mr Trakulhoon said: "Myanmar is very interesting now, particularly in terms of growing demand for infrastructure development. The group plans to establish a cement plant with production of 5000t a month. The cost will be THB9bn, with construction expected to start this year." SCG has been in Myanmar since 1993, when it was the first company to sell ready-mix concrete there.