JFE Meranti Myanmar (JMM) announced yesterday that its production facility in the Thilawa Special Economic Zone will produce 180,000 tpa of coated steel products of ALZU brand.
Production is expected to begin in December.
With the production of coated steel products, the industry sector would be developed, and import-substitute steel products would also ensure a better future for Myanmar industry, said Dr Sebastian Langendorf, the CEO of JMM. The JMM production line will include a galvanizing line of approximately 180,000 tpa capacity and a color-coating line of approximately 90,000 tpa capacity.
The factory has created about 300 jobs at present, and is expected to generate about 500 jobs, depending on the demand for products.
JMM was founded in 2017 as a joint venture between JFE Steel, Meranti Steel, JFE Shoji, Marubeni-Itochu, and HANWA.
The joint venture has received a total investment of US$85 million.—Zarni Maung (Translated by GNLM)