South Korea’s Posco C&C began work on its US$14 million sheet metal factory in Yangon’s Mingaladon township last week.
The factory is the first Myanmar investment for the Korean conglomerate, aiming to first produce sheeting by the end of October 2014 and finalise its product quality by 2015.
Posco C&C vice president Choi Sung-Hwan said the factory, 70 percent owned by Posco and the remainder by military-run Myanmar Economic Co, will produce sheeting under the ‘Green Star’ brand.
“Our plan is to build a factory for manufacturing quality coloured sheets and distributing them locally, as well as exporting,” he said.
He added some of the company’s production could be used in home appliances as well.
Source: Myanmar Times