Belt and Road paves way for Thai conglomerate expansion
Thai industrial conglomerate Siam Cement Group is seeking out opportunities to expand investment beyond the reach of Southeast Asia as plans for China’s Belt and Road Iniative (BRI) solidify.
With the conglomerate currently generating the vast majority of its revenue from the ten-member Asean bloc, any move beyond the region would be a divergence from its previous business strategy.
The firm’s CEO and president Roongrote Rangsiyopash said last month that both South China, where the company already has some
operations, and India would be natural paths for expansion as neighbours to Southeast Asia. The BRI specifically would serve as an opportunity to sell Siam Cement Group products, as infrastructure developments and private-sector investments mushroom along the revived economic chain connecting Europe, Asia and Africa.
With petrochemical complexes by the conglomerate in the works in Vietnam and Indonesia in the near future, however, these expansion plans would have to wait at least five years until capital was made available.
Roongrote Rangsiyopash, CEO and president of Siam Cement