Yangon, Amata Corp discuss details of industrial zone project

On August 7, U Phyo Min Thein, chief minister of Yangon Region Government met with executives of Thai industrial estate developer Amata Corporation PCL at the Yangon Region Office to discuss the Yangon Amata Smart and Eco City Project.

Talks revolved around nailing down the construction plan and building a 150 megawatt power plant for the project, which is one of the urban development projects being carried out by the Yangon Region Government.

The Yangon Amata Smart and Eco City Project is one of 23 urban development projects proposed by the Yangon Region Government in April. The proposals are still being considered by the regional parliament, said U Nay Phone Latt, representative of the Yangon Hluttaw.

According to a report by the Yangon Region Government, the Yangon Amata Smart and Eco City Project will be located at Dagon Myothi, northeast of Yangon. The industrial zone project will span 16,000 acres and be developed in phases between 2018 and 2026.

The government will seek foreign direct investments to develop the project. The cost of development is still being calculated but the aim is for the project to become an international standard industrial zone and create jobs for locals.

The Yangon Region Government and Amata signed on May 29 signed the MOU for the feasibility study of development of Yangon Amata Smart and Eco City in Yangon Region. Currently, both parties are trying to agree on a framework to develop the project, according to Yangon Region Government.

Amata Corp., which is Thailand’s largest industrial estate developer, was reported to be targeting the construction of more industrial estates in neighboring ASEAN countries, particularly Laos and Myanmar, to tap into benefits from China’s Belt and Road infrastructure initiative.

Source: Myanmar Times

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