Joint venture with Global South Industrial Company (GSIC), Kayah State Government will build a metal refinery which is worth USD $ 50 million in Loikaw’s industrial zone

A Myanmar-China joint venture will be building a metal refinery worth US$50 million located in Myanmar’s eastern Kayah State’s capital of Loikaw.

The Directorate of Investment and Company Administration (DICA) said in a statement that the joint venture, Global South Industrial Company (GSIC), was granted permission to build the refinery in Loikaw’s industrial zone.

DICA said the US$50 million investment will also see up to 500 jobs created in the refinery, which will be used to refine tin-tungsten and wolfram.

GSIC operates tin-tungsten mining near the Kayah State-Shan State border, which would be transported to the new site to be refined once its operational and then be exported mainly to China, the Kayah State DICA secretary Daw May Myo Zaw said.

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