HomeMMBIZ NewsItalcementi Eyes Myanmar Investment

Italcementi Eyes Myanmar Investment

Italian cement major Italcementi is studying the possibility of entering the Myanmar market in the next few years, its chief executive has said in a recent interview.

Speaking to The Nation about Italcementi’s growth potential in the ASEAN region, Carlo Pesenti said: “We are negotiating with a local partner in Myanmar and also studying the country’s Foreign Investment [Law].”

Italcementi is already active in Southeast Asia through its Jalaprathan Cement and Asia Cement operations in Thailand. Last year, Thailand proved to be a particular bright spot for Italcementi as turnover rose by 18.1 percent to €269.2 million and the EBITDA moved ahead by 58.8 percent to €51.5 million. Domestic cement shipments advanced by 13.8 percent as an additional kiln was brought back on-stream.

Italcementi Group is the fifth-largest cement producer in the world, operating in 22 countries on four continents, and has an industrial network of 53 cement plants, 10 grinding centres, seven terminals, 449 concrete-batching units and 115 aggregates quarries.

In 2012 Italcementi Group posted sales of about €4.5 billion.

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