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Nippon Steel President Expresses Hope for Building Steel Plant in Thailand
05/21/2008 - In a published statement, Nippon Steel President Shoji Muneoka expresses “strong hopes of building a steel plant in Thailand.”
In a published statement, Nippon Steel Corp. President Shoji Muneoka has expressed “strong hopes of building a steel plant in Thailand, which is actively seeking a foreign partner to boost its steel production.”
In an interview with Jiji Press, Muneoka said that the Japanese firm has a strong lead over other companies in technologies for steel plant construction and know-how on products for Japanese companies.
Meanwhile, Muneoka also blasted the target currently under consideration by the government of reducing Japan's greenhouse gas emissions by 60 to 80% by 2050. Such a target would be "totally unrealistic," he said.
Nippon Steel is expanding its steel output in response to growth in global steel demand. But it may be forced to reduce domestic production depending on the course of international talks on a successor framework for the Kyoto Protocol on greenhouse gas cuts.
Nippon Steel is yet to decide whether it should shift its focus to foreign operations by holding back from raising its domestic output, Muneoka said. “We may become unable to stay in Japan” if the Japanese government sets strict targets to reduce greenhouse gas emissions, he said, adding that other manufacturers may also face a similar fate.
While its domestic operations face uncertainty, Nippon Steel recently decided to expand the group's steel output in Brazil. According to the release, the company also aims to expand to Thailand, which has an annual steel demand of 10 million tonnes and is an operational base for many Japanese firms, including automakers and home electronics makers.
In addition to Nippon Steel, Japan's JFE Steel Corp., global industry leader ArcelorMittal, and China's Baosteel Group Corp. have offered to participate in the Thai steel plant project. The Southeast Asian country is expected choose only one firm.
Muneoka said that Mittal, which absorbed Arcelor SA in 2006 to create ArcelorMittal, has acquired steelmakers but has no experience of building steel mills on its own. He also questioned the firm's ability to produce steel sheets for Japanese home electronics makers.
Nippon Steel can securely build a steel plant with an annual output of 3 million tonnes, Muneoka said, expressing confidence that the firm can carry out the Thai project.
In an interview with Jiji Press, Muneoka said that the Japanese firm has a strong lead over other companies in technologies for steel plant construction and know-how on products for Japanese companies.
Meanwhile, Muneoka also blasted the target currently under consideration by the government of reducing Japan's greenhouse gas emissions by 60 to 80% by 2050. Such a target would be "totally unrealistic," he said.
Nippon Steel is expanding its steel output in response to growth in global steel demand. But it may be forced to reduce domestic production depending on the course of international talks on a successor framework for the Kyoto Protocol on greenhouse gas cuts.
Nippon Steel is yet to decide whether it should shift its focus to foreign operations by holding back from raising its domestic output, Muneoka said. “We may become unable to stay in Japan” if the Japanese government sets strict targets to reduce greenhouse gas emissions, he said, adding that other manufacturers may also face a similar fate.
While its domestic operations face uncertainty, Nippon Steel recently decided to expand the group's steel output in Brazil. According to the release, the company also aims to expand to Thailand, which has an annual steel demand of 10 million tonnes and is an operational base for many Japanese firms, including automakers and home electronics makers.
In addition to Nippon Steel, Japan's JFE Steel Corp., global industry leader ArcelorMittal, and China's Baosteel Group Corp. have offered to participate in the Thai steel plant project. The Southeast Asian country is expected choose only one firm.
Muneoka said that Mittal, which absorbed Arcelor SA in 2006 to create ArcelorMittal, has acquired steelmakers but has no experience of building steel mills on its own. He also questioned the firm's ability to produce steel sheets for Japanese home electronics makers.
Nippon Steel can securely build a steel plant with an annual output of 3 million tonnes, Muneoka said, expressing confidence that the firm can carry out the Thai project.
Source: JCN Network
