World Bank arm to pump in $15 million into Myanmar's Shwe Taung Cement project

World Bank arm to pump in $15 million into Myanmar's Shwe Taung Cement project

The International Finance Corporation (IFC), the private lending arm of the World Bank Group, is considering an equity injection of $15 million into a brownfield project of Shwe Taung Cement Company Limited (STC).

The company is a wing of a local conglomerate, Shwe Taung Group (STG). The Group has presence in the real estate, retail, construction and financial service sectors. In addition to equity, IFC will also invest $20 million in the form of debt capital to part-fund the $100-million brownfield expansion project of STC's plant in the country's Mandalay region.

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