Anhui Conch to invest in Myanmar

Anhui Conch to invest in Myanmar
24 November 2014

The Myint Investment Group Co Ltd has joined Anhui Conch Cement Co Ltd from China to upgrade Kyaukse cement factory, Myanmar, to a 5000tpd plant through a build-operate-transfer (BOT) system, according to the Myanmar Ministry of Industry.

The joint venture, Myanmar Conch Cement Co Ltd, received clearance from the Directorate of Investment and Company Administration on 11 November. Zaw Hein, managing director of No.3 Heavy Industry, signed the BOT contract with his counterpart, Nan Lin Lin Htun from Myanmar Conch Cement Co Ltd, on 13 November. The factory can currently produce 400tpd of cement and the investment is expected to improve the stability and efficiency of its production process.

Other foreign cement producers have recently set up in Myanmar. France-based Lafarge opened a US$10m cement repackaging factory in the Thilawa Special Economic Zone with the local Aung Myin Thu and My Associates this month. Lafarge holds 60 per cent ownership with the balance of shares split equally between the remaining two shareholders.

Published under Cement News