BUSINESS – Thiha Groups signs steel deal with Thailand’s Millcon

Thiha Group has signed a joint venture with Thailand’s Millcon Steel Plc to tap the growing demand for steel and other construction materials in Burma, according to a Bangkok Post report. Millcon’s president said his firm was “entering a new market to establish a foothold” and that it will have an advantage in being among the first foreign steel and construction firms in Burma. Despite both countries having similar populations, Burma reportedly uses 1.33 million tonnes of steel per year compared with 17.7 million tonnes consumed in Thailand.