YANGON, March 23 (Xinhua) -- The recent inauguration of a new steel plant in Myanmar, which is No.4 Steel Plant in Mingyan township, Mandalay division, would expedite the use of steel and iron in building state infrastructure, said the official daily NewLight of Myanmar Tuesday.

The Mingyan steel plant, built by the Myanmar Economic Corporation under the Defense Ministry, was opened on last Sunday.

Located near Hsakha village in the township, the Mingyan steel plant can produce over 200,000 tons of steel billets and slabs a year and later 400,000 to 500,000 tons, said the editorial.

The Mingyan steel plant stands after those of Ywama in Yangon, Kyaukswekyo/Aunglan in Bago, Myaungdagar/Hmawby in Yangon and Pinpat in Shan state.

In the past, semi-finished steel products and iron billets had to be imported for steel plants.

"The emergence of Mingyan steel plant will surely expedite the use of steel and iron in building state infrastructure such as roads, bridges and dams," the editorial believed.

According to the paper's report, Myanmar has three rich iron deposits, of which the first is in Pyin Oo Lwin's Kyadwinyay holding about 3 million tons of iron ore, while the second is in Pinpet on the border between Taunggyi and Hopong townships possessing about 70 million tons and the third in Phakant's Kathaingtaung about 230 million tons.