Myanmar consumes 500,000 tons of steel annually

　　YANGON, Sept. 17 (Xinhuanet) -- Myanmar consumes about 500,000 tons of steel annually, according to government industrial sources here Tuesday.

　　There are six steel makers in Myanmar -- one Myanmar-ROK (Republic of Korea) joint venture, four Japanese companies and one Myanmar national firm.

　　With an investment of 5.3 million US dollars, the Myanmar PoscoSteel Company (MPSC), a joint venture between the semi-official Myanmar Economic Holdings Ltd. and the Pohang Iron and Steel Company of ROK, has since 1999 been producing simple steel products in the country such as galvanized iron corrugated sheets and plain sheets for roofing purposes.

　　The joint venture, with a production capacity of 20,000-30,000 tons per year, takes about 23 percent market share in Myanmar's local market, while the rest belongs to other five.

　　For steel production in the country, 80 percent of raw materials are to be imported, while the rest are available domestically.

　　Steel raw materials have to be imported because of the fact that although there are core iron mines in Myanmar, it lacks technology to produce semi-finished steel plates which are used asraw materials in producing galvanized roofing sheets. Enditem