Nov 18, 2014

French cement giant opens depot, expecting building boom

Lafarge, a French cement manufacturer, and two local companies – Aung Myin Thu and My Associates, have opened a repacking factory with a US$10-20 million investment in the Thilawa Special Economic Zone.

The distribution depot was built with 60 percent investment from Lafarge and 20 percent each from Aung Myin and My Associates.

Lafarge is planning to further invest US$400-500 million, in the belief demand for building materials is due to soar.

Hla Myo, managing director of Aung Myin Thu, said: “Although it is described as a cement factory, really the cement will be imported. Some will be sold after repackaging there. Around 20,000 tons of cement, produced with technology from France, can be stored there. We are expecting our economy to develop and the cement market will grow strongly. We hope to meet the demand for cement across the whole country but first by trading near the Thilawa SEZ close to the port.”

The factory should provide 130 jobs, many of which are hoped to go to locals.

Lafarge, which has 1,600 factories in 64 countries, a workforce of 68,000 and a yearly income of €15,861 million, previously planned to build a factory in Myanmar but the plans fell through.

Source: Eleven Weekly Media