Investor interest in farmland around Dala township, Yangon, is rising on the back of speculation that the government will redevelop the land as part of plan to urbanise the township and compensate for giving up their property, local brokers said. “These lands are expected to be broken to be taken by the government for..
The Myanmar government has signed two power purchase agreements (PPA) to buy electricity from two liquefied natural gas (LNG) plants totaling 580 megawatts. The project company of CNTIC VPower Group inked two five-year PPAs with the Ministry of Electricity and Energy’s Electric Power Generation Enterprise (EPGE) on JUne 26 for the plants in Thanlyin,..
As investment interest in the Dala New City Project has intensified, so too the price of farmland in the area has risen sharply, said News City Real Estate MD Ko Htun Lin Kyaw. “As the farmlands will be taken over by the New City Project, we’ve seen an increase in farmland investments. This regional farmland..
The World Bank’s Board of Executive Directors has approved a $350 million credit from the International Development Association (IDA) to increase the output and efficiency of power generation and improve the resilience of Myanmar’s electricity system to climate change and disasters, according to a press release. The Board also approved $110 million in additional financing..
The government will deploy its seventh tranche of COVID-19 loans, this time to about 300 business affected by the pandemic, in the first week of July. Construction businesses are likely to be considered for next loan tranche from the K200 billion to K500 billion pool under the government’s COVID-19 Economic Response Plan released on April..
The country’s construction industry is ready to provide jobs for returning migrant workers who have the required experience, an official of a local contractors’ association said. U Shein Win, chair of the Myanmar Construction Entrepreneurs Federation, said members of the group have job vacancies at construction sites for workers returning from foreign countries due to..
The Ministry of Electricity and Energy (MOEE) is making plans to build new oil refineries in Myanmar to meet domestic oil demand and boost energy security in the country, said U Tin Maung Oo, Permanent Secretary of the MOEE. The new refinery projects will be implemented with the private sector under Public Private Partnership schemes,..
The Dala Bridge project will continue despite the spread of COVID-19, according to the Bridge and Road Department under the Ministry of Construction. “Construction of Dala Bridge project will not stop. We didn’t stop during Thingyan too,” said chief engineer U Kyaw Kaung Cho. The bridge is now 10 percent complete since construction began in..
Officials are expecting the outbreak of COVID-19 to slow the development of Dawei Special Economic Zone (SEZ) in Tanintharyi Region. “The virus is affecting the development process, including road construction,” said U Tin Htoo Naing, secretary of Dawei SEZ. Things are being delayed just as foreign investors were showing interest in the project. International..
The Japan International Cooperation Agency (JICA) and Myanmar’s government on Tuesday agreed to official development assistance (ODA) loans to contribute to economic and social development through improvements to the railway system and electricity supply. JICA signed the loan agreements with the government to provide the ODA loans of up to a total of ¥47.94..