Witoon Simachokedee, former permanent secretary of the Ministry of Industry, said that the partnership between Thai manufacturer G Steel Group and Nippon Steel Corporation will make Thailand less dependent on imports.
"Thailand will gain huge benefits from this partnership," Mr Simachokedee added.
Wirote Rotewatanachai, president of the Iron and Steel Institute of Thailand, said the country currently imports hot rolled coil, also known as HRC, to meet demand in production, but with the co-operation between G Steel Group and Nippon Steel, better quality HRC will be produced to serve the local market.
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