Dec 22, 2012

Myanmar seeks investors for floating hotels

Myanmar is seeking foreign and local investors for its plan to build floating hotels by the Botahtaung harbour area near Yangon.

“Once we finalise setting the Botahtaung jetty area, we will accept interested companies. Within eight months to one year after the signing of the contract, the harbour will be complete,” Myanmar Port Authority managing director Cho Than Maung said.

So far, only a local company, “Hla Hla Pa Pa”, has won the approval to invest in the project.

The hotels will be launched once the Yangon Port Development has expanded Botahtaung port area. The expansion will take place between wharf number 3 and inland depot 1.

The land area of the port will be extended towards the Yangon River by filling the waters with earth. A local company, Pearl Myay, is working on the port expansion project.

Source: Eleven Media News