Siam Cement awaits Myanmar investment law to proceed with plant

Siam Cement Group of Thailand is waiting for Myanmar to pass its foreign investment law before proceeding with plans to build a 5000tpd cement plant in the country.

Speaking to the Bangkok Post, Pramote Techasupatkul, president of SCG Cement said: "The proposed Myanmar factory is waiting for the authorities there to implement the new foreign investment law as well as for our project proposals to be approved.”

Myanmar recently delayed the implementation of the long-awaited foreign investment law with President Thein Sein deciding to return the legislation to parliament for further amendment when it reconvenes later this month.

"By the end of this year, something concrete [in the progress of the project] should materialise," said Mr Pramote.