The local Myint Investment Group Co Ltd has joined Anhui Conch Cement Co Ltd from China to upgrade No.33 Kyaukse cement factory into a plant that can produce 5,000 tonnes of cement daily through a build-operate-transfer (BOT) system, according to the Ministry of Industry.
The joint venture, Myanmar Conch Cement Co Ltd, was permitted on November 11 by the Directorate of Investment and Company Administration.
The managing director Zaw Hein of No.3 Heavy Industry signed the BOT contract with his counterpart Nan Lin Lin Htun from Myanmar Conch Cement Co Ltd on November 13.
The factory can currently produce 400 tonnes of cement per day and it is hoped it can become more stable and efficient.
Other foreign cement producers have recently set up in Myanmar with Lafarge from France opening a US$10 million cement repackaging factory in the Thilawa Special Economic Zone with the local Aung Myin Thu and My Associates this month.
Lafarage holds 60 percent ownership and the other two have 20 percent each.
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