Myanmar continues to see spurt in investments from overseas firms. While Sioen Myanmar, a subsidiary of European Sioen Industries Group, is investing $2.29 million in garment manufacturing, Thailand’s Siam Cement Group is putting in $5.8 million in new concrete production.
Thai Siam Cement to invest $5.8 m on concrete production
Thailand’s Siam Cement Group (SCG), a business conglomerate in ASEAN, is investing $5.8 million in a new concrete production business in Yangon.
The investment is in the production and marketing of concrete including readily mixed concrete, precast, reinforced and pre-stressed concrete as well as post-tensioned products of SCG brand, according to a spokesperson from the Directorate of Investment and Company Administration.
SCG Myanmar Concrete and Aggregate Co Ltd will carry out the project, whose construction is expected to finish by the end of 2016.
SCG currently is also expanding the construction of a cement plant in Mawlamyine, Mon state, that will be opened this year. The cement plant is said to have an investment of about $400 million with a capacity of nearly 2 million tonnes per year.
Sioen Industries Group to invest $2.29m in garment sector
Sioen Myanmar Ltd, a subsidiary of Europe-based Sioen Industries Group, is investing $2.29 million in the Myanmar’s garment manufacturing sector.
Investment will be for the cutting, manufacturing and production (CMP) work of technical garments in the Hlaing Tharyar industrial zone. The construction of the project is expected to be finished in 2017, according to the Directorate of Investment and Company Administration.
Sioen Industry Group is involved in spinning, weaving, coating, production of chemicals (like varnishes and inks) and manages the industrial chain from yarn to finished product.
Sioen Myanmar will be investing in Myanmar over a 15-year period.
The majority export of garments from the country is to Japan since 2007 followed by Germany, Spain, South Korea, China and Britain. The garment manufacturing is mostly done in industrial zones in Yangon which house over 1000 garment industries.