Eighteen local and foreign companies have signed deals with the management committee for Thilawa Special Economic Zone to open plants in its first phase, which covers 400 hectares south of Yangon, a member of the committee said.
“We have sighed deals with 18 companies, including companies from Cambodia, Hong Kong, Japan, Singapore, Taiwan and the United States as well as three Myanmar companies,” the executive said. “They will operate factories such as electronic manufacturing, construction materials production, and glove and garment manufacturing. US-based Ball Corporation is one of the investors,” the executive said.
“Ball Corporation will invest US$40 million in the first phase and later we hope we will increase up to $100 million. We hope our production will start sometime in July 2015. We will produce and sell only beverage cans,” Min Tala Nyan, Ball Corporation’s country manager said.
The committee said it would allow companies to start constructing their factories at the end of the rainy season. Infrastructure construction for the SEZ is still underway.
The Japanese and Myanmar governments each hold 10 per cent stakes in the project. Myanmar companies own another 41 per cent and Japanese companies hold 39 per cent. The Japanese government holds its share through JICA. The Japanese consortium comprises Mitsubishi, Sumitomo and Marubini.
The industrial complex includes 2,342 hectares, with Zone A having 396, according to the SEZ committee.
Sett Aung, deputy minister for National Planning and Economic Development, said 45 companies from 11 countries had submitted investment proposals for Thilawa SEZ.
Source: ELEVEN MYANMAR