Joint venture lays foundations for FECON in Myanmar

08:13 | 14/12/2015

FECON Foundation Engineering and Underground Construction JSC late last month received a temporary license from Myanmar’s Ministry of National Planning and Economic Development to set up the FECON Rainbow Foundation Construction Co., Ltd in Myanmar.

Thilawa special economic zone is being built adjacent to the port where FECON is carrying out foundation works

This company is a joint venture between FECON and local company Super Rainbow Construction, with capital contributions of 75 per cent, and 25 per cent, respectively.

In January next year, FECON Rainbow will officially start operations with its first scheduled project – foundation works on the expansion of Thilawa international port in Myanmar.

FECON Rainbow has been established to capitalise on the opportunities arising from the opening up of Myanmar following the historic election in November and the establishment of the ASEAN Economic Community on December 12 of this year. 2016 is expected to see a boom in investment in Myanmar, with a lot of transport infrastructure, energy infrastructure, and real estate being built.

A 2,400-hectare special economic zone invested in by the Japanese government is being planned for the area adjacent to Thilawa international port. The special economic zone is expected to be a major boost for the development of Myanmar’s industry, and FECON is looking forward to working on various projects within the zone. Many Japanese companies that have partnered with FECON over the past ten years are preparing to carry out projects in the zone. Some of the major contractors include Taisei, Shimizu, Sumitomo, Toa, Toyo Construction, and Penta Ocean. As FECON already has a proven track record with these companies, it stands a good chance of winning contracts with them in this special economic zone.

The company is also pursuing contracts for foundation works on thermal power plants in the south of Myanmar.

Myanmar is a brand new market and thus has a lot of potential to grow, especially as this follows many years of being closed to international business. Over the next two decades, Myanmar will need thousands of kilometres of expressways and many thermal power plants to supply power to its developing economy. The many multi-story residential buildings, office buildings, as well as hotels and resorts to be built here will also need contractors experienced in foundation and underground works.

“Our employees are good at what they do, and have experience working in an international environment. With leading technologies in the field and the ability to provide solutions that help reduce costs, FECON is confident about its growth prospects in Myanmar,” said Ishiguro Haruo, FECON’s marketing director.

FECON Foundation Engineering and Underground Construction JSC was established in June 2004. FECON operates in construction, focusing on foundation engineering and underground construction.

FECON commits to providing solutions, products, and services to meet the maximum requirements of its customers and investors from the first stages of geotechnical consulting; soil investigation; foundation testing; designing; supplying and construction, to the last stage of monitoring.

By Uyen Linh

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