Siam Cement’s board approves investment budget, Thailand

Thailand’s leading industrial conglomerate Siam Cement Group said its board has approved plans to invest about THB150-200bn (US$4.8-6.4bn) over the 2013-17 period.

Most of the investments will be spent in Southeast Asia and existing projects. Speaking to reporters, CEO Kan Trakulhoon, said: "The board has approved the investment budget at the minimum of THB150bn. If we get a good deal (acquisition), we can extend the budget to THB200bn."

Kan added that the company plans to announce an ASEAN-based acquisition later this year. Earlier this week it announced plans to buy one-third of building materials distributor Siam Global House in a deal valued at about THB10bn.