skip to Main Content

Myanmar: Five steel manufacturers formed a joint venture to produce sell hot-dip galvanised and coloured flat steel products for building and construction. Steel Producers Form Joint Venture To Fulfil Myanmar's Construction Needs

Steel Producers Form Joint Venture To Fulfil Myanmar’s Construction Needs

Myanmar: Five steel manufacturers have formed a joint venture to produce and sell hot-dip galvanised and coloured flat steel products for the building and construction sector in Myanmar.

The companies forming the joint venture include JFE Steel Corporation, Meranti Steel Private Limited, JFE Shoji Trade Corporation, Marubeni-Itochu Steel Incorporated, and Hanwa Company Limited. The five companies will establish a manufacturing and sales company—JFE Meranti Myanmar—in Myanmar through a Singapore-based holding company.

The joint venture will begin constructing a plant after obtaining approval from relevant authorities and plans to launch operations in 2020. The project’s total investment is approximately US$85 million.

The demand is rapidly expanding for flat steel products for building and construction, such as roofs, walls and structures. Currently, most of these steel materials have to be imported, but the need is expected to rise for locally produced high-quality products supported with technical services and short lead times. The demand will continue increasing as foreign companies increasingly enter Myanmar and build manufacturing plants, and as customer preferences shift to higher-end products as the standard of living rises.

The joint venture will be the first project in Myanmar focussed on manufacturing high-grade galvanised flat steel products.

CHECK OUT THESE OTHER ARTICLES

Sandvik Coromant To Showcase Digital Solutions For Machining Processes At EMO 2019
Mitsubishi Motors To Invest Seven Billion Baht In Its Thailand Facility
4 Other Automakers Join Toyota’s Electric Vehicle Project
Vietnam To Remove Import Tax For Auto Materials
Tungaloy Enhances Steel Turning Inserts Portfolio With New Grades And Geometries
Tungaloy’s Latest TetraForce-Cut Chipbreaker Provides Efficiency in Difficult Grooving
Hexagon Manufacturing Intelligence Division To Set Up New Canadian HQ In Toronto
Marposs Supports The DIGIMAN Project
Heimatec To Expand Production At Renchen Site
Hexagon Production Software Portfolio Merges Virtual and Real Manufacturing at EMO 2019

WANT MORE INSIDER NEWS? SUBSCRIBE TO OUR DIGITAL MAGAZINE NOW!

FOLLOW US ON: LinkedIn, Facebook, Twitter

   

Geely Buys US$3.32B Stake In AB Volvo
Global Steel Production Reached 136M Metric Tons In November 2017
Back To Top