South Korea’s construction materials making Aju Group is building its third factory in Southeast Asian market in Myanmar to capitalize on cheap labor cost and infrastructure demand in the region.
Aju Corp. said Thursday it has set up Aju Myanmar Co. and had a groundbreaking ceremony for pretensioned spun high strength concrete pile (PHC pile) plant in Myanmar.
The firm opened its first offshore plant in Vietnam and then in Cambodia in 2011.
The PHC pile plant with an annual capacity of 200,000 tons will start operation later this year at the Thilawa Special Economic Zone (SEZ) located in the outskirt of the country’s former capital Yangon. It will command a total floor area of 59,822 square meters consisting of dump site and two-story tower which includes office, factory and aggregate space.
Myanmar has been growing fast since opening and liberalization.
By An Gab-seong
[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]