Russian and Myanmar will jointly operate the Second Steel Mill.

Russian state-owned Tyazhpromexport(TPE) and Myanmar Economic Company (MEC) will jointly operate the Second Steel Mill (Pinpet) in 2023. Located in Pinpet district of Dongzhi, Shan State, the plant previously operated steel projects and was also jointly built by Russia's TPE and MEC in 2016. When the project was more than 98% complete, the ZANu-PF government said it had decided to halt operations because of the damage it had caused to the country.

Now, the TATmadaw is preparing to restart the project after taking over, with gas, electricity, raw materials and transportation systems in place for the project to proceed smoothly. Factories will be put into operation as soon as possible to reduce the use of foreign currency, and electric railways will be built to transport steel.

The project aims to produce 200,000 tons of iron and 720,000 tons of iron ore, which will be used as raw material for steel production at Myingyan No.1 Steel Plant. (Golden Phoenix, Myanmar)