Myanmar Dealbook: BASF new plant; Property expo sees $12.6m sales

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Global chemical company, BASF, is set to open its first facility in Yangon by 2017 while iMyanamrHouse.com property expo recorded sales worth $12.6 million.

BASF to open chemical plant by 2017

Germany-based BASF, a leading chemical company, will open its first manufacturing plant in Yangon by 2017 to support the growth of the local construction industry, it announced on December 15.

BASF construction chemical division offers solutions for construction, maintenance, repair and renovations of structures.

“As Myanmar’s construction industry grows more sophisticated in its scope, which includes high-rise buildings, roadways and bridges, the requirement for high-quality technical and construction chemical solutions will increase,” said Christian Mombaur, head of the BASF Construction Chemicals division’s regional unit in Asia.

BASF has supported major building and infrastructure projects in Myanmar such as Thilawa Special Economic Zone, Yeywa hydropower dam and Myingyan steel mill.

Yangon property expo records $12.6m in sales

iMyanmarHouse.com property exposition in Yangon has recorded sales of residential units worth  K17 billion ($12.6 million), according to a company announcement.

The fourth expo – backed by Yoma Strategic Holdings (Star City) and Shine Construction Co Ltd – saw participation from 50 property and construction companies.

“iMyanmarHouse.com has plans to partner with private entrepreneurs to be able to sell more of low cost housing units,” said Nay Min Thu, managing director.

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