South Korean giant plans massive factories

The TAEKWANG and Huchems Company Group, the biggest corporation from South Korea, says it is planning investment of US$600 million to construct factories on 173 acres of land to produce business and consumer products in Thilawa special economic zone.

The company says it will create 500 jobs for locals. The construction of the factories will be started next year and is expected to take one year.

It is planning to manufacture chemicals and related products under the name of the Huchems Fine Chemical Corporation for hospital use, businesses and other consumer products to sell cheaply in Myanmar. The products will also be exported.

The Taekwang and Huchems group is planning to expand its investment into fertilizers, water pipes and a power plant factory in Myanmar. The factories will produce liquefied petroleum gas, edible oil, fertilizer, petroleum, and liquid chemicals. In the project, there will be 30 or 40 tanks, three warehouses and a wastewater treatment system.

The Taekwang and Huchems group said it would invest US$100 million in Myanmar to set up a 85-acre shoe factory in an industrial zone near the Hanthawaddy International Airport in Bago.


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