JFE Steel starts producing color-coated product in Myanmar
YANGON, NNA - JFE Steel Corp. has responded to growing demand by launching the production of color-coated flat steel at a joint venture plant in Myanmar's Thilawa Special Economic Zone.
JFE and its partners have invested a total of $100 million in the plant operated by JFE Meranti Myanmar Co.
A hot-dip galvanizing plant in the same area is also scheduled to start operations in the middle of this year, JFE said in a statement released Thursday.
The Myanmar plant will be capable of producing 100,000 tons of color-coated flat steel and 180,000 tons of hot-dip galvanized flat steel annually, JFE said.
JFE Meranti Myanmar's parent company, JFE Meranti Myanmar Holding Pte. Ltd., is owned 35 percent by JFE Steel, 20 percent by Meranti Steel Pte. Ltd. of Singapore, and 15 percent each by JFE Shoji Trade Corp., Marubeni-Itochu Steel Inc. and Hanwa Co. (NNA/Kyodo)