FECON Corporation has just completed the construction package worth $2.2 million at the Thilawa Internetional Port (Yangon, Myanmar).
FECON is beyond big opportunities when investment flow from Japan is pouring into Thilawa industrial zone (Myanmar)
After 5 months of implementation, FECON officially completed the soil improvement and PVD construction package of Expanding Thilawa International Port (Yangon, Myanmar) project worth $ 2.2 million with high profits. This first success has shown FECON’s capability in Myanmar market and opened up great opportunities in this country.
The soil improvement and PVD construction package of Expanding Thilawa International Port (Yangon, Myanmar) project was signed by FECON with a Japanese general contractor at the end of 2015. In Jan 2016, FECON officially established a joint venture with a local company in Myanmar named FECON Rainbow to implement the project. In May 2016, after 3 months of preparing machinery,equipment &materials transported from Vietnam and ground condition in Myanmar, the project has been implemented and completed on time with the best quality.
Despite being the first project of FECON in foreign market, by abundant working experience with foreign partners in Vietnam market, FECON has made a good impression in the eyes of the Japanese contractors with the hope of cooperating with FECON for the next projects.
Since 2015, Myanmar market has been opened up for many foreign investorsThis market is assessed to be extremely challenging, but has the potential for developing with opportunities in tectonic period of the country after years of closure. A series of new projects with investment from FDI and especially the gold wave from Japanese firms are pouring into Myanmar.
Beside the “Expanding Thilawa International Port” project partly implemented by FECON, There is a special industrial zone being built currently measuring 2,400 hectares with investment flow from Japan. Along with Thilawa International Port, this industrial zone is expected to be a strong impetus for the development of Myanmar’s industrial production in the near future .
Reportedly, the big business names from Japan are preparing to implement the project in this industrial zone, and for them, FECON has had opportunities to demonstrate competence at work in Vietnam.
With experience and success of thise first project, in 2017, FECON is towards great opportunities to participate in such projects in this industrial zone Currently, FECON is pursuing foundation works for a number of big Thermal Power Plant projects in southern Myanmar with large revenue target for the upcoming years in this market.
“Despite not being big project, this FECON ‘s first project in Myanmar has actualized FECON ‘s capacity in developing overseas business in general and in Myanmar in particular, confirmed the readiness of FECON in international integration and gradually reaching out to the world, “a FECON’s leader said.