On January 12, the Chinese embassy in Yangon issued a statement that mentioned the US$.3.6 billion Myitsone dam project, suspended by the government since 2011, in a manner that aroused indignation in political circles and among the public. The statement, issued after a visit to Myitkyina by Chinese ambassador Mr Hong Liang, attributed Hong as […]
Chinese firm finalises new Yangon city proposal
December 4, 2018 by
The government body in charge of developing an ambitious new Yangon city project has reached the final stage in negotiations with China Communications Construction Company (CCCC) in preparing pre-project documents (PPD). Launched by the regional government in March via a 100pc government-owned New Yangon Development Co (NYDC), the new city project covers an area twice […]
Hong Kong Firm Close to Finalizing New Yangon City Proposal
November 28, 2018 by
Hong Kong-listed China Communications Construction Co. Ltd (CCCC) has nearly finalized its proposal for the development of US$1.5 billion (2.4 trillion kyats) worth of initial infrastructure for the controversial “New Yangon City” project across the Yangon River from Myanmar’s commercial capital, according to a government body established to oversee the project. New Yangon Development Company […]
Capital for NYDC are Deposited to Local Banks
September 25, 2018 by
New Yangon City Project, Yangon Regional Government’s mega project, will be implemented on the western bank of the Hlaing river. The project is falling behind the scheduled start date, because of this the capital for the project is being deposited in local banks, KBZ bank and AYA bank, Daw Khin Than Hla, Yangon Regional Auditor […]
