Indonesian/Myanmar companies sign concrete plant MoU

Indonesia-based construction company 7481 Wijaya Karya and Myanmar-based construction equipment company United Mercury Group (UMG) have sealed a Memorandum of Understanding (MoU) for the formation of a joint venture company. They will team up to develop a concrete plant on five hectares of land in 2013 as being involved in construction services, according to Ganda Kusuma, director of finance for Wijaya Karya. Under the first phase of the plant development, a US$150 million fresh fund will be allocated, with an annual production capacity of 27,000tonnes ³.