CHUGOKU-TOA Paints Factory Project in Myanmar
TOA-Chugoku Paints Co.,Ltd. (TCP) has invested 300 million baht to build the first overseas paint factory in Myanmar on the area of 12 Rai located in Thilawa Special Economic Zone. Myanmar is one of TCP’s expansions abroad, with plans to reach Cambodia, Laos and Bangladesh in the near future. The plant has started to construct since July 2019 and scheduled to operate in May 2020 with expecting to capture demand from Megaprojects and Myanmar economic growth under registration name of Chugoku-TOA Paints (Myanmar) Ltd. Expected yearly sales are approximately 500 million baht after five years of operations. The company will capture many business sectors such as fishery crafts, shipment vessels and construction as well as distribute paint products to Myanmar’s navy agencies.
Mr.Pisit Boonchanya, Managing Director, said this factory will start production on July 2020 with a capacity of 300 tons per month and will increase to be 500 tons per month within 5 years. Myanmar has opened for new business and investment flows five years ago, as a result; its growth is approximately 6-7%. Moreover, there are many megaprojects awaiting development and expansion such as power plant, drilling rig oil. Besides, the election next year seems to stimulate the economy. We also foresee Cambodia and Laos which we already capture 50 million baht. However, once we achieve revenue of 100 million baht at break-even point, we will consider to invest in plant there.