Japan based Toyo Seikan Co., Ltd will join hands with Loi Hein Company to set up a can manufacturing factory, it is learnt.
Toyo Seikan Co., Ltd has already pledged to make an investment of US$23.5million in the factory. The joint venture (JV) will be founded under the name of Yangon Can Manufacturing Co., Ltd.
This factory is expected to manufacture 200 million cans per year. Those cans will be mainly used for fruit juice. The factory will be built in the Thilawa Special Economic Zone (SEZ), said Dr. Sai Sam Htun, chairman of Loi Hein Company. The factory is slated to become operational in 2018. The Japanese company will own 75 per cent of shares and the remaining shares belong to Loi Hein Company, it is learnt.
Source: Global New Light of Myanmar
