Monday, December 19, 2016

Australian based steel technology and manufacturing company BlueScope Steel Ltd., operating in Myanmar as NS BlueScope Myanmar Co., Ltd, will open the first steel plant at Thilawa Special Economic Zone, according to NS BlueScope Myanmar.
“We will produce not only metallic coated and painted steel but also decorative steel products, which are in demand locally and are used in the manufacturing and construction sector,” said Mr. Thian Aun Goh, Chairman of NS BlueScope Myanmar.
BlueScope have invested $6.4 million in the Myanmar operation and are targeting completion of the plant by mid-July 2017.  
The plant will bring advantages for Myanmar’s construction industry, which makes up 65% of steel consumption in Myanmar, giving them access to quality materials in the local market. Meanwhile Myanmar’s auto and motorbike industry is also steel hungry and is expected to have churned out 6 million domestically produced vehicles by the end of 2016, up from 3.16 million in 2013.
With Myanmar’s economy predicted to hover around  7.8% growth for 2016-2017, it is expected that the consumption of steel per capita will continue to grow with the growth of the construction and manufacturing industries.
“The plant is symbolic of how we’re building trust with the Myanmar construction industry and the country’s whole economy by bringing our expertise and quality products to our customers,” added Chairman Thian Aun Goh.
 
Ei Thandar Tun
Source>>>Myanmar Business Today

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