Thailand-based cement manufacturer Siam Cement Group will invest more than USD 400 million in a cement factory and another facility in Mawlamyine, the capital of Mawlamyine State.
The project of the cement plant with the capacity of 1.8 million tons a year is scheduled to start by mid 2015.
The company will employ technologies that could have least impacts on the environment, 7Day Daily reported, citing an official of the company.
The King of Thailand owned 30-percent stake in the company.
Products of the factory is planned to transport to Yangon by water ways.
The company will set up 40 Megawatt power plant and a 9 Megawatt waste-heat generator on the sideline of the project.
There are 15 cement factories in operation in Myanmar, but they are tackling with low productivity than expected due to energy issues, according to the report.
The government is also privatizing its cement factories.
Following the wait for foreign investments, Myanmar’s yearly cement demand has increased to 8 million tons.
Current domestic production only nears 3 million tons a year.