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Myanmar Short Lists 5 Firms to Restart Steel Plant in Myingyan

Steel News - Published on Thu, 09 Jul 2020

Image Source: Myanmar Steel Plant
MM Times reported that Myanmar’s Ministry of Planning, Finance and Industry has shortlisted five companies to apply to form a joint venture with state-owned steel plant in Myingyan. The ministry intends to restart the steel plant with the help of the private sector. The companies selected to participate in the tender are Sinosteel Equipment & Engineering Co Ltd, Go Excellent Myanmar Co Ltd, Milicon Thiha Co Ltd, Direct Investment Ltd and IMR Resources India Private Ltd.

The ministry began seeking expressions of interest from both domestic and foreign investors interested in participating in the recommissioning of the Myingyan steel plant in January.

The steel mill, located near Sar Khar village, Myingyan Township in Mandalay Region, is reported to have a production capacity of 1.8 million tonnes a year. Due to mounting losses, the plant was temporarily suspended by the government.

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Posted By : Yogender Pancholi on Thu, 09 Jul 2020
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