Construction work began Monday on a Japan-backed steel mill project in Rangoon’s Thaketa Township, according to a report in the state-run New Light of Myanmar newspaper. The report said the mill was being built by J & M Steel Corporation Co Ltd, a joint venture between the public works department at Burma’s Ministry of Construction and Japan’s JFE Engineering Corporation. Japan’s government and Japanese companies are backing major projects in Rangoon, notably at Thilawa port and Chinese state newswire Xinhua cited official statistics saying Japanese investment in Burma amounted to US$273.4 million as of July.
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