Japan’s IHI inaugurates heavy concrete factory joint venture in Myanmar

IHI Corp. held an opening ceremony Sunday for its heavy concrete factory in Myanmar, becoming the first Japanese plant producing pre-stressed concrete products in Southeast Asia’s newest emerging market. The Tokyo-based heavy industry company, in partnership with Myanmar’s Construction Ministry, opened the $12.2 million facility in the Myaungdagar Steel Industrial Zone in Hmawbi, located about […]

Prices plummet after new city plans halted

Market prices have collapsed west of Yangon after region officials shelved controversial plans for a massive city expansion in the area. “There are no more buyers,” said U Hla Chit, a broker who had chased opportunity to the area. “The market has totally stopped and farmers are quiet about selling the land, and local brokers […]