South Korea-based Posco, the world's six biggest steelmaker, is keen to invest US$300 million to expand its investment in energy and flood prevention in Thailand.
CEO Chung Joon Yang met Prime Minister Yingluck Shinawatra on Friday to ask for support from the Thai government for the company's expansion into energy and flood-prevention-related businesses.
Ms Yingluck has assigned the Board of Investment and the Industry Ministry to work on the details with the company and on how to proceed with the South Korean firm's investment plans.
Posco had entered Thailand in 1997. Through Posco (Thailand), the company currently operates two steel factories in Wellgrow Industrial Estate in Chachoengsao and Amata City Industrial Estate in Rayong. It is also reportedly keen on investing in the Thai-led deep-sea port project in Dawei, Myanmar.