Japan’s Nippon Steel (NSC) and JFE Steel Corp separately are enthusiastic to propose to Thai government on constructing steel plants in Thailand, according to officials from both companies and Thai government.

Recently Thai Board of Investment (BOI) has announced to all parties interesting in producing high-quality steels in Thailand and requested their interests to be submitted by January 31. The proposed project will be locating in southern Thailand with annual capacity of 2 million tons at least.

It is believed that the project will accelerate the growth of industries including automotive, electrical appliances and electrons and will lower dependence on imported steel.

Thailand currently consumes 12.5 million tons of steel a year, of which 4.5 million tons are imported high grade steel.