Posted on 12 Oct 2021
Myanmar plans to restart the Russian-backed Pinpet plant in Shan State in the financial year 2023-2024, according to the chairman of the State Administration Council (SAC) Senior General Min Aung Hlaing.
The SAC chairman went to No.2 Steel Mill Project (Pinpet) operated by No.1 Heavy Industrial Enterprise under the Ministry of Industry near Pin Ngo Village of Pinpet region of Taunggyi Township, southern Shan State on 1 October 2021. The resumption of this steel project aims to replace steel imports and reduce the use of foreign currency, Kallanish notes.
The plant is a joint iron mining and steelmaking project between the military-owned Myanmar Economic Corporation (MEC) and state-owned Russian company Tyazhpromexport. In 2016, the state-run Global News Light of Myanmar announced that the mines near the mill could possibly produce 10.7 million tonnes of hematite iron ore with 56.4% Fe content and 59.3mt of limonite iron ore with 42.6% Fe. The pig iron from the smelter was to be used as a raw material for steel production at the No.1 Steel Mill at Myingyan, in the Mandalay Region.
Source:Kallanish
