Jotun opens factory in Myanmar

Jotun, a privately-owned Norwegian paint maker, has opened a K14 billion factory in Bago Region.

Located in the Bago Foreign Industrial Zone, the 4-hectare plant will provide paint manufacturing jobs for more than 60 employees.

Jotun first entered Myanmar in 2013 before obtaining an investment license to build the factory from the Myanmar Investment Commission in 2014.

“Myanmar is an attractive market for Jotun to venture into. With its strategic location in the centre of Asia’s rapidly growing countries, abundant natural resources and a sizable 53 million population, Myanmar has all the right bases for strong economic growth,” Jotun chair Odd Gleditsch said at the plant’s opening ceremony.

Jotun is not the only Norwegian company to expand in Myanmar.

In October, Energeia Asset Management Myanmar, which is an international joint venture between Energeia Asset Management AS of Norway, Myanmar Eco Solutions and Pyi Phyo Tun of Myanmar, said it will build a solar power plant at Thaton Industrial Zone in Mon State.

The plant is scheduled to commence construction in August next year and be complete in October 2019. The first phase of the plant is expected to generate 28 megawatts of power.

Source: Myanmar Times

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