SSI submits rehab plan

In a statement, SSI group CEO and president Win Viriyaprapaikit said the banks would provide further support and might provide additional working capital to keep the company afloat.

He said the plan would preserve and strengthen SSI’s hot-rolled coil (HRC) steel production, which still yields a high profit margin. An expected rise in Asean’s annual steel consumption from 60 million tonnes to 80 million tonnes in the next three years should benefit the company, while domestic demand should rise from 17 million tonnes now thanks to government projects, an improvement in household spending, and ongoing urbanisation in Thailand.