JFE Engineering Corp. is making preparations to set up a joint venture with the Myanmar government for infrastructure construction in the fast-growing Southeast Asian country, company officials said Saturday.
The unit of JFE Holdings Inc. aims to establish the joint venture this fall, taking a majority stake with an investment of over 1 billion yen, the officials said.
The venture plans to start a factory for bridge parts in Yangon next spring and expand the business to other infrastructure construction such as ports and airports, they said.
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There are four major rivers in Myanmar: Ayeyarwaddy River, Thanlwin River, Chindwin River, and Sittaung River.
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