Yangon- US-based Ball Corporation has set October to construct its production plant for beverage can becoming the first US investment project at Thilawa Special Economic Zone, said Min Tala Nyan, the company’s country manager.
“We have not finished land preparation during the monsoon. At the end of the rains, we can start construction work. We hope the construction can begin in October,” said the country manager.
The investment project was unveiled at the signing ceremony for the memorandum of understanding on June 6.
“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 about July in 2015. We will produce and sell only beverage cans,” said the country manager.
The Ball Corporation has been in business for 130 years. It is the largest producer of beverage cans in the world. It also offers services on metal packaging for food. Its food cans are being marketed across the world.
As of June, the US ranks 13th in investment in Myanmar with 15 projects worth $243 million, according to the Department of Investment and Companies Registration.
Source: ELEVEN MYANMAR