Malaysia’s APM Automotive Holdings plans to build an interior parts plant in Myanmar to support the CKD operations of Nissan from 2015.
Nissan Motor’s Malaysian partner Tan Chong Motor Holdings is spearheading the Japanese carmaker’s entry into what is considered one of the last remaining “frontier” markets in Asia with potential for substantial growth.
APM has received formal approval for the initial USD 9 million investment from the Myanmar Investment Commission (MIC). The plant will be located in the Bago region of Myanmar, just north of Yangon and close to the proposed Nissan plant.
Construction will start within a year and it will be controlled by APM Auto Components Myanmar Co Ltd. The company has leased land from the Bago government for a period of 50 years, extendable for two periods of 10 years.