The Myanmar Port Authority will refund the premium of over Ks190 million for land to be used by Kaung Myanmar Aung Company to build a jetty near Botataung Pagoda in Yangon.
The company won the tender for construction of a jetty and surrounding buildings on 20 acres between the pagoda and Bo Aung Kyaw jetty.
However, the Lower House of Parliament on June 8 approved a proposal urging the government to stop the project as it lacked transparency. The proposal was submitted MP Tin Maung Win on June 3.
“We are planning to refund the company more than Ks190 million, including a 50-per-cent land premium,” said one of the authority’s board of directors.
However, company CEO Swe Lin said he had not received any official information about the project being cancelled.
“The port authority has not sent any official letter informing us about stopping the whole project. We paid the 50-per-cent premium because we were told to do so within 30 days after winning the tender. We have not received any official information either about the refund,” he said.
Source: Myanmar Eleven
