STEELMAKING in the North-East can survive for at least another 30 years, steel bosses said last night, as they launched a bold plan to restore the region's position as a superpower in the industry.

Thai firm SSI, which has already spent £1bn on its loss-making Redcar steelworks, is planning further investment that will create more jobs.

"There is nothing to stop us," said Win Viriyaprapaikit, SSI Group's chief executive, who will take a more hands-on role when plant boss Phil Dryden steps down at the end of the year.

"Steel-making on Teesside has lasted for almost 170 years and we want that heritage to reach the 200 year mark," he added.

Last night, SSI was close to agreeing an initial £16m contract with a US customer that could lead to more than £60m of Teesside steel crossing the Atlantic next year.

SSI has also made a breakthrough in Germany.

Mr Viriyaprapaikit revealed that 15,000 tonnes of steel slabs every month are being shipped from Teessport to the Rhine, in a deal worth about £62m per year.

Its ambitious growth plan to more than double steel output comes after the Teesside business was rocked by annual losses of £274m.

The former Corus works, which was mothballed in 2010, has suffered serious cashflow problems since production restarted in April 2012.

The European steel industry is facing its biggest crisis in decades as operators have scaled back production and laid off workers amid falling demand, weaker steel prices and Chinese competition.

SSI is confident that its links with South-East Asia, where there are significant growth opportunities, will protect it from the slump.

"We are very ambitious," said Mr Viriyaprapaikit, who expects SSI Teesside will make its first profit in the new year.

"We are looking at new investment and potentially recruiting more people. It is very exciting for us and for Teesside," he added. "This is why we made the acquisition of this site in the first place.

"The Redcar plant was the last one built in the UK. It came with the greatest hopes and expectations that were never fully realised," he said.

The site was designed to accommodate three blast furnaces but has only one in operation. Mr Viriyaprapaikit added: "We hope we can get to the stage where we have three. That is the ultimate goal. It would take us to a level where we are making ten million tonnes of steel a year. Only a handful of sites in the world can do that.

"If we can get there we know it will secure Teesside steel-making for a very long time.

"The potential is there to produce greater volumes and higher quality steel.

"The infrastructure in this region is second to none in the world. We have a great site; a deep sea bulk terminal that is the biggest on the east coast of the UK, and a skilled workforce with engineering capability.

"We have the passion to do this," he said.