IHI Corp. held an opening ceremony Sunday for its heavy concrete factory in Myanmar, becoming the first Japanese plant producing pre-stressed concrete products in Southeast Asia's newest emerging market.

The Tokyo-based heavy industry company, in partnership with Myanmar's Construction Ministry, opened the $12.2 million facility in the Myaungdagar Steel Industrial Zone in Hmawbi, located about 50 km northwest of the country's commercial capital, Yangon.

The factory is operating under I&H Engineering Co., a joint venture between the ministry's Highways Department and IHI Asia-Pacific Pte. Ltd., the Japanese company's Singapore subsidiary.