JFE Steel JV Starts Operations of Color-coating Line in Myanmar
JFE Steel Corporation along with Meranti Steel Pte. Ltd, JFE Shoji Trade Corporation, Marubeni-Itochu Steel Inc. (MISI) and Hanwa Co., Ltd. announced today that a color-coating line has begun operating at the company’s joint-venture hot-dip galvanizing and color-coating plant for flat-steel construction materials in Myanmar.
The plant is operated by JFE Meranti Myanmar Co. Ltd., which was established by the aforesaid parties. The overall hot-dip galvanizing plant, which is still undergoing construction, will enter production in mid-CY20.
Economic development has progressed dramatically since Myanmar's democratization in CY11, resulting in rapid growth in demand for flat-steel construction products for roofs, walls and structural components. Most such materials are currently imported, but high-quality products produced locally with short lead times and supported with technical service will be in increasing demand as foreign companies continue to enter the country and build manufacturing plants.
Demand will also be supported by rising local preferences for higher-end products. JFE Meranti Myanmar looks forward to meeting this need and contributing to local economic development by supplying basic materials for infrastructure, said the company release.
source: SteelMint
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