The No. (1) Myingyan Steel Mill was established in 2005 to produce 400,000 tons per year of steel and steel products, construction materials and machinery materials; and facilitate substitution of imported steel and steel products with locally produced steel.

The mill is located near Sar Khar Village, Myingyan Township in Mandalay Region and is approximately 3.3 miles west of milepost 450/0 on the Yangon Myingyan Highway.

The steel mill was planned to be implemented in four phases. Phase 1 was completed and started production in 2010. Phases 2, 2A and 3 are still under construction and expected to produce value added products upon completion.

A portion of the US$ 1,843 million phase 1 project cost was funded through a loan from state-owned China Development Bank (CDB).

Tendering is ongoing to identify a private sector entity that will be responsible for recommissioning and operation of the Myingyan Steel Mill. The scope of the project primarily entails finishing phases 2, 2A and 3. Phase 2 will involve commissioning of the direct reduction plant (DRP) and finishing the hot and cold strip mill complex; phase 2A will require completion of hot dip galvanizing line, color coating line, slitting line and sheet forming line; and phase 3 will involve finishing the section mill, rail mill, pipe mill and slitting line. The winning bidder is also expected to produce quality steel products, improve local production, and substitute imported steel products with locally produced steel and steel products.