Tata Steel has revived plans to sell its Thailand business as the company looks to exit less profitable overseas units in the ongoing super cycle said senior group officials aware of developments. The proposed sale coming on the heels of India’s largest steel makers move to offload its Singapore business, NatSteel Holdings will aim the company cut its debt further. Bangkok- listed Tata Steel Thailand has a market value of over 13.47 billion baht or $410 million. A Tata Steel spokesperson said, “We have recently completed the transaction of NatSteel and we will continue to explore all options for Thailand”. To be sure, Asia’s oldest maker of the primary infrastructure alloy is focused on the home market.
Tata Steel had finalised the sale of the Thailand unit to China’s HBIS group in 2019. The deal was called off after the state run entity failed to secure approvals.