Bidding for Yangon Industrial Zone Heats Up in Myanmar

• 18 January 2021
• International News
• 7430 Views

The Ministry of Investment and Foreign Economic Relations in Myanmar has announced that 16 expressions of interest had been received from firms in nine countries, including Japan, Singapore, Italy, Spain and France, in response to opening the project to competitive bidding.

The initial US$1.5bn plan to develop the west bank of the Yangon River was initially to have been built by China Communications Construction Company (CCCC), but the planning and bidding were publicly opened following criticism of the process and a scaling down of the project to US$800m.

The first phase of the new district will include a bridge over the Yangon River, an industrial park, apartment blocks, a 9sq km resettlement zone and supporting power, transport and water infrastructure.

• Projects Development