HOUSE OF THE WEEK
An abundance of space at FMI City
CERTAINLY, space is not a problem in this house – once you get there. Over the Hlaing River, 45 minutes from downtown, there is a large one-storey house in a big compound waiting for someone ready to trade time for space. ...morePlastic industry aims to tie deal with govt
PLASTICS industry businesspeople are working hard to cut a deal with the government, and Chinese traders, to produce composite wood-plastic, both for domestic use and export by March 31.
That day is when a government ban on high-density polyethylene plastic comes into effect. This time the deadline is likely to be binding, having already been pushed back from November 30.
But before it will approve production, the government wants to see tangible improvement in the wood-plastic plant – and its products.
To that end, four business owners travelled to China from December 21 to 25 to purchase the machinery required to make the composite material that can be used to make furniture, eyeglass holders and book holders.
“We have to show improvement in our production of recycled plastic and wood composite by March 31. If we can we’ll be involved in a win-win result for us, the public and the Yangon City Development Committee (YCDC),” said U Aye Lwin, chairman of the Dagon-Seikkan Industrial Zone said last week.
He said the machinery to be bought from China will cost about US$350,000.
To that end, those involved in the industry hope to form a large company and is looking for up to K500 million ($500,000) to build a factory, and will sell shares to do so. Some 35pc of these will become available to the public, he said.
“We will be selling shares for K2.5 million each,” said U Aye Lwin.
U Aye Lwin also urged wholesale and retail shops to contact plastics makers to sell back coloured plastic bags by the end of December.
The Yangon branch of the State Peace and Development Council (SPDC) has designated four places in Yangon Division where used plastic bags to be recycled can be bought and sold – South Dagon, Dagon Port, Hlaing Tharyar and East Dagon townships. Prices ranging from K200 to K1000 per viss (1 viss is equal to 1.6 kilograms or 3.6 pounds) according to the grade of the bags.
