ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter

JFE Steel to build Myanmar sheet factory for construction

Demand for high-grade steel soars as rising economy spurs development

JFE Steel looks to jump ahead of the competition on local production of corrosion-resistant steel in Myanmar.

TOKYO -- JFE Steel will establish a Myanmar production center for high-grade steel sheet in 2020, anticipating rising demand for such value-added goods in a fast-growing market where urban development and foreign investment are expanding.

The steel will be produced for construction, with annual capacity reaching 180,000 tons. Investment totaling roughly 10 billion yen ($88.4 million) is expected. JFE Steel and JFE Shoji -- both units of JFE Holdings -- will invest a total of 50% in a holding company to be set up this year, while Marubeni-Itochu Steel and Hanwa contribute 15% each. Steel venture Meranti Singapore is in talks to invest the remaining 20%.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more