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December 8, 2019

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CONSTRUCTION

Hong Kong firm to invest $500 mln in power generation, supply in Yangon, Kyaukpyu

Image result for kyaukphyu special economic zoneA Hong Kong-based company will invest US$500 million to execute electricity generation, supply, and sale projects in Yangon and Kyaukpyu cities, said U Thant Sin Lwin, Director-General of the Directorate of Investment and Company Administration (DICA). Hong Kong-listed CNTIC Vpower Company will invest $363.070 million in the generation of electricity from LNG, and supply and sale of electricity on IPP (BOO) basis at the Thakayta power plant in Yangon Region.

Additionally, the company will invest $140.47 million in the generation of 150 MW of electricity from LNG, and supply and sale of electricity on IPP (BOO) basis in Kyaukpyu Township in Rakhine State. The company has not set the period for starting operations, but it plans to begin as soon as possible. At an MIC meeting, the company committed to providing power supply at the soonest.

Hong Kong topped in the list of investors in the first two months of the current financial year, pumping in over $1 billion in real estate development, electricity, and garment businesses, according to data from the DICA. The total foreign direct investment stood at $1.39 billion as of 29 November in the current financial year.

Source: Global New Light of Myanmar 

Four hydropower projects to continue implementation in 2019-2020 FY

Image result for hydropower projects MyanmarThe four hydropower projects—671-megawatt (MW) Shweli (3) hydropower project, 280-megawatt (MW) Upper Yehwa hydropower project, 111-megawatt (MW) Thahtay hydropower project and 51-megawatt (MW) Upper Kyaingtaung hydropower project—will continue implementations during 2019-2020 fiscal years, said a source from the Ministry of Electricity and Energy. The whole project will be finished in 2020-2021 FY.

The implementing projects during 2019-2020 FY include 622.38 miles of 66-KV power lines, 22 66-KV sub-power plants, 132-KV, 230-KV, 500-KV, 1488.15 miles of power lines, 25 sub-power plants, 23-megawatt Myanaung natural gas-fired power plant, 152-megawatt Ale Paunglaung hydropower project, 671-megawatt (MW) Shweli (3) hydropower project, 280-megawatt (MW) Upper Yehwa yydropower project, 111-megawatt (MW) Thahtay hydropower project and 51-megawatt (MW) Upper Kyaingtaung hydropower project, said Dr. Tun Naing, Deputy Minister of the Ministry of Electricity and Energy.

Upper Yeywa hydropower project is situated on the dam built on Dokhtawaddy (Myitnge) 280-megawatt (MW) power plant is built and it generates 1,409 million kilowatt hours annually. It is aimed at distributing power to all parts of the country through Myanmar national grid. It is a type of roller compacted concrete (RCC). It can store 277,000 acre feet of water. A 38.73 percentage of the construction of the dam has been so far finished.

Source: Eleven Myanmar 

Yacht jetty, Eco Smart City planned in Yangon Region

Image result for Yacht jetty, Eco Smart City planned in Yangon RegionApproval has been granted for the construction of a yacht jetty on Bago River and a Smart City, with 6,000 apartments, at Shu Khinn Thar in Thakayta Township of Yangon Region. The projects were introduced at a ceremony held at the jetty hall on October 1.

Construction of the yacht jetty will begin very soon. Emerald Bay will be the first Eco Smart City with a sailboat jetty in Yangon Region. A Yacht Club will be established to develop the best living community by celebrating the river festival.

As part of the project, eleven 32-storied buildings will be constructed on 27 acres of land within five-and-a-half years. The first phase of the project will begin in March, 2021. The project will have over 6,000 apartments, with parking capacity for 7,200 cars. The urban planning project is being implemented by the Yangon Golden Paragon Investment Company for six months now. Currently, the project is 25 per cent complete.

Source: Global New Light of Myanmar 

Yangon to Upgrade Night Market Under PPP Scheme

The Yangon Regional Government is going to upgrade the night market located on Strand Road. It will undertake the project in collaboration with A25 Myanmar Development under a private/public partnership (PPP) scheme.

The K2 billion upgrade plan is going to be implemented in two zones. It will include 90 restaurants with an eight-foot-square footprint each, other shops, and two car parks. The Yangon Regional Government opened the night market on Strand Road in 2016, with the YCDC providing a water, electricity, and drainage system. The government charged shop-owners K 200-500 per night. Shop owners also agreed with the plan to upgrade the night market.

The night market was intended to provide fresh food to visitors, both local and foreign, and it is now in need of an upgrade because the shops are wanting in cleanliness and hygiene.

Source: Myanmar Business Today 

New online building permit system in Yangon goes on live

Image result for construction siteIFC, a member of the World Bank Group, has been supporting the Building Control Authority of the Yangon City Development Committee (YCDC) in efforts to reform the construction permit system and improve the ease of doing business in the city.

The Yangon Building Permit System, an automated, paper-free system, went online on July 1 and will be piloted until the end of the year. The system is estimated to reduce the processing time for 90 percent of the 4000 construction permits submitted yearly from an average of 95 days to 49 days. The new online building permit system, available in English and, Myanmar languages, was custom-built for YCDC. ‘Dealing with construction permits’ is one of the 10 indicators used to determine the Ease of Doing Business index, on which Myanmar now ranks 171 out of 190 countries.

“Compared to other sectors, Myanmar’s construction sector has the highest earning potential. An efficient, transparent, and affordable permit system will enable a conducive business environment in Myanmar,” said Vikram Kumar, IFC Country Manager for Myanmar.

Source: Myanmar Times 

Korea Land and Housing Corp. to Build an Industrial Complex in Myanmar

Image result for The Korea-Myanmar Industrial Complex (KMIC)Korea Land and Housing Corp. (LH) signed a memorandum of understanding (MOU) with the Urban and Housing Development Department (UHDD) of Myanmar’s Ministry of Construction (MOC) and Global Sae-A Co on August 7, 2019, establishing a joint venture to build an industrial complex in Nay Pyi Taw, the capital of Myanmar.

The Korea-Myanmar Industrial Complex (KMIC) is the first industrial complex project promoted by LH in the ASEAN region. It will be built on an area of 2,249,000 square meters in Nyaung Hnit Pin, about 10 kilometers north of Yangon city. The project period will be divided into two stages from 2019 to 2024, and the total construction cost is 130 billion won (US$107.45 million).

LH and the Myanmar government will hold a 40 percent stake in the joint venture each and Global Sae-A will own the remaining 20 percent. The joint venture will place an order for the industrial complex design by the end of this year and start construction and attract investments next year.

Source: Business Korea 

Master Plan for New Yangon City Completed

Image result for new yangon cityNew Yangon Development Company Ltd (NYDC) said that the master plan for New Yangon City, which is planned to accommodate 1.2 million people, was recently completed by AECOM. Master plan was drafted in a way to identify the most efficient land use which included infrastructure, economic development, environmental planning, transportation planning, social and cultural planning after conducting a thorough analysis.

NYDC selected one of the three proposed alternate plans prepared by AECOM under the scientific approach of Sustainable Systems Integration Model, which measure the KPIs in four major categories: Connected Neighborhood, Workforce Environment, Sustainable Urban Structure, and Green Infrastructure. Moreover, the proposed transitional zone between the existing villages and the new city development will provide a livable city and satisfy the sustainable development goals.

The role of the master planner for New Yangon City is to create a safe, smart, and livable city for up to 1.2 million habitants, as well as achieve a land-use mix that would lead to the creation of 900,000 jobs by 2050 as per New Yangon City’s Socio-Economic Study, conducted by McKinsey.

Source: Myanmar Business Today 

China-Backed Venture Proposes $800M Development Near Kyaukphyu Seaport

Related imageA Chinese petrochemical giant and a Myanmar firm have jointly proposed to the Rakhine State government the development of nearly US$800 million (1.21 trillion kyats) worth of projects near the Kyaukphyu Special Economic Zone (SEZ)’s deep seaport and Ramree Island.

The centerpiece of the proposal is a new logistics terminal on Maday Island situated 10 kilometers east of Kyaukphyu to support the deep seaport project. It also includes a project in Za Yet Pyin Village on Ramree Island called the Sea View Beach, 40 kilometers south of Kyaukphyu District, as well as a US$5 million fishery in the Than Zit River.

Myanmar Bright Prospect International Logistics (MBPIL) held a meeting with Rakhine State Chief Minister U Nyi Pu, which was also attended by several state cabinet members, in Sittwe on June 28. During the meeting, U Ding Ying laid out MBPIL’s plans, including an estimated budget for each project, to the cabinet members, the minister said. MBPIL is joint venture (JV) company established by Chinese firm Yunnan Baoshan Hengyi Industry Group and Myanmar firm Delco. MBPIL officially registered as a foreign company with the Directorate of Investment and Company Administration (DICA) in April 2019.

Source: The Irrawaddy 

More development on the books for Mandalay

Related imageMore funding will be used for Mandalay Region development work in the 2019-2020 fiscal year, said Mandalay Hluttaw (Assembly) MP and regional Project Budget and Finance Committee member U Wine Chit Aung. As the Pyidaungsu Hluttaw (Assembly of the Union) has allocated additional funding to regional and state assemblies for fiscal year 2019-2020, more development work can and will be carried out.

More than K17 billion from the 2018 mini-budget and more than K2.7 billion from the 2018-2019 budget have been used so far for development projects. In the 2019-2020 fiscal year, more than K27 billion is anticipated to be used for regional development work. The focus in Mandalay will be on electrification projects to bring electricity to rural areas and work to improve roads to improve transportation for rural people. The projected budget to supply electricity to rural areas is more than K12.8 billion in the current fiscal year and more than K16.4 billion for the 2019-20 fiscal year.

After the new Department of Rural Road Development is in place, it will spend K5 billion this fiscal year and more than K8.3 million in 2019-20. Although the government manages the national grid, many villages are yet to be connected to it so more work will be carried out to connect villages to the grid. The Mandalay Region Hluttaw approved an estimated budget for the region of more than K360 billion for fiscal year 2019-2020 on the second day of its 14th regular session.

Source: Myanmar Times 

International standard Myanmar Aquarium targeted to open in 2020 in Yangon

Related imageU Tin Maung Tun of Mottama Development Company, which is implementing the aquarium project, said that Myanmar first international standard aquarium is underway to be opened in 2020. This aquarium is built on the 5 acres of compound of Kandawgyi Park by Mayanmar Aqurium Co.ltd with the permission of Yangon Regional Government. The project was started at the beginning of 2014. It was reported that it is the collaborate effort of Department of Fisheries and Myanmar Aquarium Co., Ltd with long term Loan agreement.

It has been discussed with regional government that when it is open, the admission price will be affordable to everyone besides special prices for the students. “There will be glass tunnels, from which people can see fish above, called Under Water World. For that, there was a lot of security consideration. So, we took international technical assistance. The equipment is customized and cannot be bought in the market, which is why it takes time. Now, the construction of the building has completed. It has yet to be installed Light Sporting System and put fish. We are trying to open in 2020”, U Tin Maung Tun said.

Mottama Development group implementing Myanmar Aquarium Project is now building five international standard aquariums: one on Pyay Road M tower, one at Terminal M Shopping mall near Aung Mingalar Bus Terminal, one at habor trade tower near Yangon International Airport and one at HL tower. Mottama showroom was opened at Maha Land Center on Kabar Aye Pagoda road, Yankin township, Yangon yesterday.

Source: Global New Light of Myanmar 

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