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Bangkok Cable Unveils 2024 Strategic Plan with an Over 500 Million Baht Investment

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Bangkok Cable Unveils 2024 Strategic Plan with an Over 500 Million Baht Investment, Expanding the Electrical Wire and Cable Market for Future Growth

Bangkok Cable Co., Ltd. (BCC), a leading manufacturer in the region of electrical wire and cable production technology for sustainable growth, recently announced its strategic plan for 2024, with a focus on expanding its presence both domestically and in the ASEAN market to meet increasing energy demand and the surge in renewable energy use. BCC is allocating an investment budget of over 500 million baht to double the production capacity of its medium-voltage and extra-high-voltage electrical cables and to triple the sales of its solar cell cables or PV cables (photovoltaic cables). The company is aiming for revenue growth of over 30% and to expand its market share to 35%, reinforcing its leadership in the electrical wire and cable industry and its commitment to delivering world-class quality products providing maximum efficiency for a range of applications.

Mr. Pongsapak Nakornsri, Executive Director of Bangkok Cable Company Limited (BCC), said, “In response to growing demand for electrical wires and cables driven by economic expansion and government initiatives in infrastructure development, public utilities, and renewable energy adoption, including solar energy, BCC has laid out an ambitious operational plan for this year. With an investment budget of at least 500 million baht, we aim to double our production capacity for medium and extra-high-voltage electrical cables and triple our sales of solar cell cables. Our goal is to achieve at least a 30% increase in revenue and capture a 35% market share.”

Global electricity demand is expected to triple over the next 30 years, beginning in 2020, driven by the increasing focus on environmental, social, and governance (ESG) principles and the movement to Net Zero, indicating a shift to renewable energy sources. Reflecting Thailand’s energy consumption needs, electrical energy demand is projected to grow by approximately 3.5% in 2024, followed by a 3.3% increase over the following three years. This anticipated growth is aligned with government strategies such as Thailand’s new Power Development Plan (PDP), initiatives for implementing Smart Grid technology, the development of the Eastern Economic Corridor (EEC) and Smart Cities, as well as the shift to a clean-energy transportation system. This transition includes an increased demand for electric vehicles (EVs) and public charging infrastructure.

The current market value of Thailand’s electrical wire and cable industry is approximately 55 billion baht, with BCC holding about 25% of the market share. A majority of the company’s revenue comes from domestic sales, distributed across several sectors: 31% from building and construction businesses, 26% from industrial groups, 23% from the electricity and energy sectors, and the remaining 19% from other sectors. In 2023, BCC reported a total operating income of 12.8 billion baht, marking a 12.3% increase from the 11.4 billion baht recorded in 2022, representing the highest growth rate in 60 years.

For international expansion, BCC is primarily focused on the ASEAN region, specifically targeting Myanmar, Lao PDR, and Cambodia. Its core sectors are targeting retail businesses, wholesale markets, and projects supported by government initiatives. Over the past five years, BCC has achieved sales exceeding 1,000 million baht in Myanmar, establishing the company as the market leader in the country and in Lao PDR. Additionally, BCC has expanded its exports to include markets in Singapore, China, the Philippines, India, Mexico, and Australia.

Through its ongoing research and development efforts, BCC has experienced robust growth in its electrical wire and cable products, tailored to meet the diverse requirements across four market segments: low voltage, medium pressure, high pressure, and ultra-high pressure. These products seamlessly serve the needs of seven major industry groups, both domestically and internationally. These include the construction and building sector, infrastructure development, industrial enterprises, automotive businesses, electrical power distribution, electric power transmission, and solar energy industries.

Currently, BCC is recognized as a market leader in the electrical wire and cable manufacturing sector, offering a comprehensive range of products for all applications. Distinguished by its high-quality standards, competitive pricing, and efficient delivery, BCC stands out as the sole electrical wire and cable manufacturer in Thailand affiliated with the UN Global Compact Network Thailand (UNGCT), which aligns the company with the world’s largest sustainable development network, highlighting its commitment to sustainability and responsible business practices.

“BCC is committed to exploring new avenues for continuous and sustainable business expansion by broadening our customer base domestically and internationally within the electrical wire and cable industry. This encompasses infrastructure projects aimed at underground electrical cable installations, as well as initiatives in airports and seaports, all while efficiently managing raw material costs and continuously improving product quality through innovation, technology, and engineering expertise. Our goal is to deliver top-notch electrical wires and cables, contributing to the growth of the electricity and energy sectors, and ultimately enhancing quality of life and promoting environmental sustainability,” concluded Mr. Pongsapak.

For more information about BCC’s business operations, visit: https://www.bangkokcable.com/th/home

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