JFE MERANTI Myanmar Co., Ltd (JMM) invested USD $ 85 million in the steel industry to boost construction industry in Myanmar

JFE MERANTI Myanmar Co., Ltd (JMM) invested $85 million in steel industry, and said it will start selling locally produced coated steel products under ALZU in the market in December.

The product is one of JMM’s 55 percent Aluminum-Zinc alloy-coated and color-coated steel products, available with high quality AZ70 and AZ100 coatings.

The plant is in the Thilawa Special Economic Zone, and will produce various products for industrial, commercial, residential and healthcare buildings. The company will produce steel products for domestic and foreign markets.

“Myanmar’s economy is evolving rapidly and has huge growth potential, but the country needs good infrastructure and building materials to support it,” said Dr. Sebastian Lagendorf, CEO of JFE Meranti Myanmar Co., Ltd.

The company said it will adhere to a set of principles including reliable supply, consistent quality, a low minimum order requirement, short lead times, a product performance warranty and superior technical support in order to stand out among both local and foreign competitors.

“Our metal alloy coating uses an interlace mesh of aluminum and zinc to achieve excellent corrosion resistance with an attractive surface appearance. The Zinc-rich areas are the first line of defense in protecting the steel substrate, followed by the second-line aluminum-rich layer,” he added.

Production of the color coating line will begin in December 2019, while the metal coating line is set for the first halt of 2020.

Myanmar imports 2-3 million tons of steel per year from China, India, and Bangladesh. This huge import accounts for up to 90 percent of the local demand. The shift to building with steel has caused the demand for domestic steel to go up in each of the last few years. Demand was at 2.1 million tons in 2017, 2.4 million tons in 2018. Demand is expected to reach 3 million tons in 2020, and 5 million in 2025, according to the World Steel Association.

(Myanmar Business Today: https://www.mmbiztoday.com/articles/jfe-meranti-s-coated-steel-products-boost-construction-industry )

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