Feb 7, 2012

Thai cement company eyeing Myanmar

In another sign of Thailand companies moving into neighboring Burma, Siam City Cement Plc (SCCC) is looking at building a cement plant in Myanmar.

Managing director Philippe Arto said the company already has contacts and is studying potential investment locations throughout the country, according to an article in the Bangkok Post published on Thursday.

"For SCCC, we see the real potential and are positive about Myanmar. We have to act fast to grow our business there," he told the newspaper.

SCCC was chosen as one of the prospective cement companies to be involved in the Dawei deep-sea port industrial project, according to an article published late last year. SCCC Executive Vice President Chantana Sukumanont confirmed that SCCC had already carried out a feasibility study to determine if a cement plant in Myanmar would yield favourable results.

Arto was quoted as saying he was concerned, however, about “regulations and exchange rates.”

Chantana said SCCC is also looking at acquiring other assets in Myanmar.

Source: Mizzima