Thailand/Myanmar: Siam Cement Group (SCG) has suspended the operations of two plants in Myanmar and halted any expansion plans over the next two years amid ongoing economic decline and political instability. The economic situation in Myanmar has deteriorated since the outbreak of Covid-19 and was exacerbated by the 2021 military coup and continuing conflicts between the junta government and various ethnic groups, reports The Nation newspaper.
SCG's executive vice president, Thammasak Sethaudom, stated that the company has invested over US$240m in these facilities. He said "There is no hope of resuming operations anytime soon. Myanmar has another cement plant in the north, owned by a Chinese company and guarded by the Chinese military. SCG could not do that and we would not risk our employees’ lives."
