1 billion baht loan to Posco from Bangkok Bank

Posted by Soren 12 March 2008 (0 comments)

Bangkok Bank issues Baht 1 billion loan to Posco (Thailand), one of the world’s largest steel producers, for construction of a third plant in Thailand

Bangkok Bank Executive Director and Senior Executive Vice President Suvarn Thansathit (2nd from left), and Executive Vice President Piya Sosothikul (left) jointly signed contracts with the Chairman of Posco (Thailand) In Chan Moon (3rd from right) to provide a Baht 1 billion loan to the company for the construction of its third cold-rolled and hot-rolled coil manufacturing plant at the Wellgrow Industrial Estate in Chachoengsao province. The new plant, expected to become operational by the end of 2008, will increase the company’s capacity to produce steel sheets from 200,000 tons per annum to 280,000 tones. Posco (Thailand) supplies steel to the automotive, electrical appliance, and electronic industries. The company is a subsidiary of Posco Korea, one of the three largest steel producers in the world and the largest steel producer in Korea.