The Thailand Board of Investment has approved an investment project by Xingda Steel Cord (Thailand) Co., Ltd. valued at 13 billion baht. The project, a new facility at the Rojana Industrial Park in Chonburi Province, will produce high-tensile steel wire for the tire industry.

The new plant will have an annual production capacity of about 260,000 tons of steel cord, bead wire, and other specialized steel wires. This investment is backed by China's Jiangsu Xingda Steel Tyre Cord Co., Ltd., a leading global manufacturer in the industrial steel wire sector.

The project is expected to strengthen Thailand's automotive supply chain, reduce dependence on imports, and boost the competitiveness of its domestic tire and automobile industry.