"TOA-Chugoku Paints (TCP) has earmarked 500 million baht to construct its first overseas paint factory in Myanmar, expecting to capture demand from megaprojects. The new factory will produce two paint products -- heavy-duty coating and marine paint -- with a monthly capacity of 300 tonnes. The project will be located in Thilawa Special Economic Zone on an area of 12 rai. It is scheduled to begin operations in April 2020. TCP set up a new local unit in Myanmar, Chugoku-TOA Paints Myanmar, to operate the factory. Chugoku Marine Paints (CMP) from Japan holds a 51% stake in the Thilawa company, while TOA Venture Holding (TOAVH) from Thailand owns the remainder..."