03 Dec Myanmar, Japan form steel joint venture

Written by Xinhua Published in Investment Read 4882 times

SteelMyanmar has formed a joint venture with a Japanese firm to undertake production of steel solution, official media reported Tuesday.

The joint venture of J and M Steel Solution Co Ltd was established between Myanmar's Public Works of the Ministry of Construction and Japan's JFE Engineering Corporation.

The construction of the steel mill started in Yangon's Thakayta township following signing of the agreement on the establishment, said the New Light of Myanmar.

According to official statistics, Japan's investment in Myanmar amounted to 273.423 million U.S. dollars as of July 2013 and ranked the 11th in Myanmar's foreign investment line-up.