Myanmar’s Diamond Star Co has been permitted to operate an international jetty and commodity production through a build-operate-transfer system on the 61 acres of land at the Thilawa port, according to Myanmar Investment Commission (MIC).
The MIC gave the firm permission to run a jetty and land development work, and the production of chemical fertilisers, flour, cooking oil, grain, sugar and packaging works.
Ko Ko Gyi, one of Myanmar’s top businessmen, owns Diamond Star.
Sector A of the Thilawa Special Economic Zone, composed of eight industries, will start operating soon.
Domestic firms and companies from Japan, Thailand, Singapore and Taiwan have set up plants in the economic zone.
Myanmar and Japan run Thilawa through a 51:49 ownership ratio in Myanmar Thilawa SEZ Holdings Plc (MTSH).
Foreign companies such as Ball Corporation, Foster Electric and Sugar Glose are building factories in the zone, and 63 foreign companies from countries including the US and Japan have sent letters of interest for investment in the first phase of the Thilawa SEZ.
Also, 28 domestic and foreign companies have already signed agreements to invest in the phase, which will see new factories producing steel and aluminum products, construction material, electrical appliances and garments. (Ast)
Source: nationmultimedia.com
