Yangon-based Myanmar Motor Corporation Public Company Ltd (MMC) – a consortium of 31 local companies – has received the Myanmar Investment Commission approval to start assembly production of buses targeting domestic markets and export too going forward.
The company will invest a total of $10 million for the assembly facility and production. The facility is located in Mingalardon township across four acres.
“Our capacity is 30 cars (units) per month,” said Htay Aung, president of MMC during an interaction with DEALSTREETASIA.
The facility will initially assemble two types of buses – a 49-seater and a 55-seater catering to both city and highway routes.
Going forward, the company is looking to export these buses to Singapore, Macao, Hong Kong and Taiwan “We are aiming for the export market. Corporations like SMRT in Singapore usually change 100 to 200 buses every year. We want to fill in that space,” said Aung.
The company is targeting to produce 100 buses per year, and gradually take the production up to 200 by year nine of operations.
MMC, established in 2012, comprises 31 private companies including Sakura Trade Centre Co Ltd, Sakura Engineering and Construction Development Co Ltd, Sakura Technical Services Co Ltd, and other such as Three Color Cherry Co Ltd, Myanmar New Way Co Ltd and Ngwe Kyar Yan Co Ltd.
Htay Aung founded Sakura Auto Co Ltd, which is into imports of new and reconditioned cars. He is known for building the Sakura Hospital in Yangon.
MMC is also the exclusive dealer of MAN, a provider of commercial vehicles headquartered in Germany.