US-based Ball Corp to invest in Thilawa SEZ

US-based Ball Corp to invest in Thilawa SEZ

Published on Saturday, 07 June 2014 18:33

Ball Corp, the American beverage cans manufacturer, will invest US$40 million to build its plant at Thilawa special economic zone, according to the company's announcement on Friday in Yangon.

"We are a leading manufacturer of steel and aluminium cans," said a company official.

The company signed a lease to set up its business in the zone which is a Myanmar-Japan joint venture.

"In the first phase, Ball plans to invest $40 million and will raise the capital outlay to $100 million. The project will kick off as soon as possible and the production of beverage cans is to commence by July 2015," said Min Tala Nyan, country manager for Ball Asia Pacific's Myanmar Plant.

In a related development, Japanese ambassador Takeshi Higuchi announced the signing of a deal between a Japanese auto parts manufacturer and the special economic zone. 

"This is Myanmar's first-ever special economic zone – a national project supported by the governments of Myanmar and Japan. It is encouraging news that American and Japanese companies should sign respective contracts on the same day. I strongly believe that this would further cement the cooperation of Japan, the US and Myanmar. Japan will continue to support infrastructure development of the Thilawa zone under the Official Development Assistance programme," said the ambassador.

"As a first phase, Ball Corporation plans to invest US$ 40 million and later increase to up to US$ 100 million. We will start the project as quickly as possible. Ball is set to start its production as of July, 2015. And we will sell beverage cans to the beverage manufactures," said Min Tala Nyan, Country Manager of Myanmar Plant, Ball Asia Pacific Ltd.

Source: http://www.news.myanmaronlinecentre.com/2014/06/07/us-based-ball-corp-to-invest-in-thilawa-sez/