Japan-based JFE Steel Corporation’s joint venture with Meranti Steel, JFE Shoji, Marubeni-Itochu Steel and Hanwa (JFE Meranti Myanmar -JMM) has begun operations of its colour-coating line in Myanmar. The plant began construction in March 2018 and is still underconstruction. The hot-dip galvanised products section is expected to be operational in mid-2020.
|Company name||JFE Meranti Myanmar|
|Business description||Manufacture and sale of sheet products for building materials|
Hot-dip galvanizing line (180,000 mt annual capacity)
colour-coating line (100,000 mt annual capacity)
Myanmar steel overview
Most of the flat steel construction products including roofing, walls and structural components are being imported into Myanmar. Rising demand for construction material has attracted many foreign companies to build manufacturing plants in Myanmar to produce high quality products locally.
Steel consumption is low in Myanmar at 3mn mt per year, which is expected to rise by more than 60pc to 5mn mt by 2025. In comparison, Singapore consumes nearly 5mn mt of steel, Thailand 11mn mt. Myanmar aims to produce more steel domestically to reduce import costs as the country imports close to 90pc of its steel requirements, according to U Sit Taing Aung, chairperson of the Myanmar Steel Association as reported by The Myanmar Times.