Daewoo Bus Myanmar is planning to produce 500 buses annually under a semi knock down system starting from March 2019, said its managing director Kyaw Kyaw Aung in a press conference held at UMFCCI on February 28.
The company invested about US$10 million on the project and will be sold domestically as well as export.
Zyle Daewoo Company from South Korea and Myanmar Trade Center Company jointly founded the company in March 2017 and build a factory on 14 acres of land owned by Ministry of Industry in Htautekyant, Mingaladon Township under build, operate and transfer system with 35-year lease. The factory will be opened in March 2019 and will being to produce buses.
At the present, the company plans to manufacture Daewoo City Bus BS106 and Lestar minibus and its service centers will be opened in Htautekyant, Mandalay and Nay Pyi Taw.
“Daewoo City Bus BS106 and Lestar minibus are currently manufactured in South Korea. The buses manufactured in Myanmar will be sold in Myanmar as well as its neighbouring countries. We guarantee that the buses manufactured in Myanmar will have the same qualities with those manufactured in South Korea,” said the managing director.
The Daewoo City Bus BS106 and Lestar minibus are currently only manufactured in South Korea and production lines of the factory are installed with international standardizations.
Daewoo is manufacturing more than 15,000 cars under semi knock down system in South Korea, China, Costa Rica, Vietnam, Kazakhstan, Pakistan and Taiwan, with Myanmar being the eighth market.
“Although we can manufacture about 500 buses annually, it will also depend on the demand from our customers. The prices are around US$85,000 for a City Bus and US$45,000 for a minibus. They will be registered in Yangon and will be distributed in the market in April,” he said.
Although the buses are manufactured under semi knock down system, about ten parts of the buses are manufactured under the system. The rest are manufactured by complete knock down system, he said.
