Bangkok: The Federation of Thai Industries (F.T.I.) points out that government budget disbursement is delayed. Driving the growth of the construction industry Construction materials - stumbling contractors It is expected that next year it will grow well. But there is still concern about Chinese steel spilling into Thailand. Mr. Vikrom Watcharakupt, Chairman of the Construction Materials Cluster The Federation of Thai Industries (F.T.I.) spoke at the Green Construction toward ESG Achievement seminar organized by the Construction Materials Cluster. Federation of Thai Industries that the expansion of the construction industry in 2024 is likely to expand only slightly, approximately 2%, worth approximately 1.4 trillion baht, with the expansion coming from government construction of 2%, with the majority being the construction of continuing projects from the past, such as the high-speed rail project high double track railway project electric train project Motorway project and construction in the private sector gr ew by 3%, with residential construction projects office building retail space industrial plant Including hotel renovations that are in line with the expansion of the tourism sector after the COVID-19 situation. These factors directly affect the trend in demand for construction materials. It is expected that in 2024-2025 demand will grow by an average of 3.5-4 percent per year. However, the building materials group faces challenges from a slowdown in investment in the public sector. Due to the delay in disbursement of the state budget. Including construction material products from China. Especially the steel that came to hit the Thai market. Affecting Thai steel producers Due to the real estate crisis in China causing construction investment in China to stall Therefore, there is a lot of steel remaining that must be exported to other countries. Importantly, steel imported from China has a lower price than steel produced domestically. As a result, contractors choose to use steel from China instead to reduce cos ts. 'State budget Most of it is investment budget related to construction. Delays in disbursement of funds cause construction in various projects to slow down. There is no investment in new projects, and not just government projects. Private sector projects are also waiting to see clear directions. But after the budget has been disbursed It is expected that various projects that have been stalled will be able to resume. which will hopefully benefit the entire sector Although there is little time left, however, in terms of construction materials this year the overall picture is not impressive. It is in a state of stability from last year. Due to the delay of government budget disbursement But it is expected that from next year onwards there will be growth, mainly due to government policy that wants to spread more prosperity to the countryside. Stimulating tourism various soft power which will allow private sector investment This will cause more growth than meets the eye,' Mr. Vikrom said. As for Green Constr uction, it is considered a long-term opportunity for the industrial sector. Because the whole world is heading in this direction. Due to the CBAM measures, construction material manufacturers have been paying attention to this matter for some time. such as the cement group that has already been carried out The steel group is in the process of carbon footprint printing. -517-Thai news agency Source: Thai News Agency