IS the steelworks at Teesside about to have its third new owner in as many years? That was the question I put to SSI bosses when I caught up with them last week at Steel House, Redcar.

As you drive through the security gates and up to the main entrance of the plant your car must chicane its way through a roadway littered with potholes – a sign that funds have been directed towards more important areas, such as paying wages and bills.

The sight of crumbling infrastructure is nothing new to anyone who works in regional newspaper offices.

The bumpy road at SSI is symbolic of the ongoing challenges facing the steel firm, which posted a £274m loss in its last accounts.

Since before Christmas, there have been rumours swirling around the industry that the Thai owners were ready to listen to offers for the steel plant which they rescued from mothballing in 2011, saving 1,800 jobs.

The cost of continuing more than 160 years of iron and steel making on Teesside had taken a heavy toll on SSI, which took a huge leap of faith when it invested in a site which at the time of its closure was hardly deluged with potential owners.

Only SSI had the courage to take on an operation which drew on a rich industrial history, but faced fierce competition globally.

SSI has ploughed more than $1bn into the plant, and it is anticipated that the UK operation will mark its second year of operation in a couple of months without yet showing a penny of profit.

That is expected to change in the second half of this year when Redcar finally makes a positive contribution to the group’s balance sheet.

Win Viriyaprapaikit, SSI group chief executive and president, has always regarded this as a long-term project and he dismissed suggestions that he was about to walk away from a plant, which he admitted he had fallen in love with.

This place and its people have clearly got under his skin. He is now spending half of his time on Teesside as he takes a much more hands-on approach to ensuring the Herculean effort to revive the business was not in vain.

Last month, he restructured his senior team, now led by South African Cornelius Louwrens as UK business director, an appointment which was warmly met by steel unions.

“We understand that this is a business which stirs deep emotions in this area,”

said Mr Viriyaprapaikit, who has a vision for steelmaking on Teesside to continue for at least another 20 to 30 years.

His ongoing commitment to the region is something that we should all welcome and support.