Myanmar: Nissan to invest $50m on assembly; $12m cable car project on cards

In a few investment related developments in Myanmar, Nissan Motor said it would assemble 10,000 units annually in the frontier market while the first cable car in the country is proposed to be built at an estimated cost of $12 million.

Nissan to invest $50m on car assembly

Nissan Motor and partner Tan Chong Motor (Myanmar) are planning to set up a 10,000 units assembly at an investment of about $50 million in the coming years, according to Nikkei Asian Review.

Nissan has been present in Myanmar since 2013, and has imported sport utility vehicles and pickup trucks from Japan, Thailand, among others.

Nissan started selling their ‘Sunny’ mainstay sedan in January after assembling in Myanmar. Plans ahead include setting up a new plant in Bago region which will be ready for the opening in 2019.

“We will introduce Nissan’s green and safety technologies to the market with great potential,” said Yutaka Sanada, regional senior vice president of Nissan’s Asia and Oceania operations.

In other auto sector developments in Myanmar, Ford, Lisan, Toyota and Suzuki are also operating in the country with plans to roll out their vehicles soon. Myanmar Motor Corp is also investing $10 million for assembling buses.

Myanmar cable car project to cost $12m

Myanmar’s first cable car at Zwekabin Mountain in Kayin State will begin construction in February at an investment of $12 million.

Zweabin Myay Development Company and Chit Lin Myaing Toyota Company have signed the agreement on January 12 for the project, according to Karen News.

Zweabin Myay Development Company is founded and managed by Zwekabin Temple monk, U Kawi Daza, and Chit Lin Myaing Toyota Company is chaired by Colonel Saw Chit Thu, senior advisor and general secretary of the Karen State Border Guard Force’s central command.

Chit Lin Myaing Company will take 75 per cent stake in the project and will be responsible for the installation costs. Zwekabin Myay Development Company will take 25 per cent stake and be responsible for providing for the land for the project.

Also Read:

Myanmar Motor Corp gets nod to set up $10m bus assembly, eyes exports

Myanmar Dealbook: Mizuho, Max in MoU; Ford, Nissan, Lisan set up assembly

Suzuki to build second Myanmar car plant

 

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.