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A joint venture between Myanmar’s leading heavy machinery distributor, Myanmar Kaido Co., and Japanese trading giant Mitsubishi Corp. aims to capitalize on Myanmar’s rapid development of urban infrastructure through the rental of construction and other equipment.

An opening ceremony for the joint venture, Diamond Rental Myanmar Co., was held at a hotel in Myanmar’s commercial hub of Yangon on Dec. 9. The venture is 50 percent owned by Mitsubishi, 30 percent by Myanmar Kaido and 20 percent by Mitsubishi subsidiary Nikken Corp.

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