In multiple investment updates from Myanmar, Thailand’s Siam G S Battery is putting in $10 million to set up its plan while Kalbe Farma is pumping in $18.25 million for its pharma products factory.
Siam GS Battery to invest $10m
Siam GS Battery Myanmar Co Ltd, backed by Thailand’s Siam GS Battery Co Ltd and Japan’s GS Yuasa Corporation, plans to expand its resources in Myanmar with a $10.14 million investment approved by the government earlier this year, according to the Directorate of Investment and Company Administration.
Its factory in Myanmar, located at the Thilawa Special Economic Zone, will be using the proceeds for the import, charging and wholesale of energy storage, automotive battery and lead-acid batteries.
Since 2013, GS Yuasa has increased its ownership in Siam GS Battery. With the rise in demand for automobiles in Southeast Asia, the company has planned to accelerate its growth by investing resources in Myanmar, Laos, Cambodia, and other areas in the Mekong region.
Kalbe to invest $18.25m in pharma factory
Kalbe Farma, a pharma company operating in Southeast Asia, has secured approval to invest $18.25 million to manufacture and sell products in Myanmar, according to the Directorate of Investment and Company Administration.
The firm, which has offices in Singapore and Indonesia, is setting up its factory in Thilawa Special Economic Zone for the manufacturing and wholesale of over-the-counter medicines.
Kalbe Farma is also currently setting up a biopharmacy raw material manufacturing plant in West Java, Indonesia, which will be ready for commercial operation by this year.