Apr 2, 2013

Myanma Port Authority to construct harbour in Thilawa

Myanma Port Authority will construct a harbor at Thilawa Special Economic Zone with financial assistance from Japan’s Official Development Assistance (ODA), MPA’s managing director Cho Than Maung said.

“MPA will expand a harbor in Thilawa Special Economic Zone. Official development assistance from Japan will be used for a loan and a MoU with MPA will be signed this month,” he said.

MPA will construct the harbor on five land plots in the zone. Japan is providing low-interest, long-term loans for the zone’s construction.

The zone is divided into off-site and on-site infrastructure. A harbour, roads and bridges will be included in off-site infrastructure and a water sanitation system and electric wiring will be in on-site infrastructure. Governments and businesspersons from both sides will form a joint venture developer company.

The joint venture is to be invested 51 per cent by local investors and 49 per cent by Japanese investors. The project is intended to finish in 2015.

The company will be established as a private company and governments and businesspersons from other countries have been allowed to join the joint venture. Thilawa special economic zone has about 5,000 acres and its land will be divided into class A and B. High technology industries will be constructed in Class A and labour intensive industries will be constructed in Class B.

Source: Eleven Weekly Media

2 comments:

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Construction of Harbors in Myanma said...

Great initiative!! It's great that Japan's ODA is pumping in money for this project. That too at very low interest rates. This will boost economic development in Myanmar.

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