M-Development Corporation to undertake $150 million bus terminal project

A $150 million project to upgrade the Chan Mya Shwe Pyi (Kywe Se Kan) Bus Terminal has been launched, according to M-Development Corporation (Myanmar) Co, which has entered into a long-term partnership with Mandalay City Development Committee (MCDC) to undertake the work.

While the bus terminal is being upgraded, temporary bus stations will be constructed starting this month, said U Myo Ko Ko, general manager of M-Development Corporation (Myanmar) Co

“Construction of temporary stations has started and is expected to be complete by December. The designs were made by a Singaporean company and will be carried out by foreign experts,” U Myo Ko Ko told The Myanmar Times.

Meanwhile, the bus terminal upgrade project will be completed in 2020 and like an international airport, will include departure and arrival halls, ticket counters, shops, food courts and hotels. Five-storey condominium units will also be developed.

“Only the terminal will be finished by 2020. The rest of project including residential units, hotels and shopping centres will be gradually built,” U Myo Ko Ko said.

He added that although M-Development Corporation (Myanmar) Co will pay leasing fees totaling K300 million a year for the next 50 years to the government, MCDC will still collect daily terminal entrance fees.

When complete, the 15.3-acre wide terminal will have 245 stations and space for thousands of cars including private vehicles and highway buses, according to MCDC.

“After the improvement, the new bus terminal will be a landmark of Mandalay and will be the first International Standard Highway Bus Terminal of Myanmar,” said MCDC’s Joint Secretary U Thet Naing Tun.

M-Development Corporation (Myanmar) Co won the tender for the project in 2014 and paid K2 billion to MCDC in 2015 for the permission to use land. The company signed an agreement with the MCDC in October 2017 allowing it to lease the land for 50 years at K300 million per year.

Source: Myanmar Times

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