JFE Meranti Myanmar has started operation of a color-coating line with a total capacity of 100,000 mt per year, with is a part of its hot dip galvanizing and color coating plant in Myanmar, according to a report by Japanese steel producer JFE Steel, one of the owners of the joint venture.
The hot dip galvanizing production with a total capacity of 180,000 mt per year will be started in mid-2020. “Economic development has progressed dramatically since Myanmar's democratization in 2011, resulting in rapid growth in demand for flat steel construction products for roofs, walls and structural components… JFE Meranti Myanmar looks forward to meeting this need and contributing to local economic development by supplying basic materials for infrastructure,” JFE Steel said in its report.
JFE Steel owns 35 percent of JFE Meranti Myanmar, while Singapore-based Meranti Steel has 20 percent equity, a trading division of JFE Holdings JFE Shoji Trade Corporation holds 15 percent, Japan’s Marubeni-Itochu Steel has 15 percent, and Japan-based trading company Hanwa holds 15 percent.