Union Construction Minister opens bridges in Ottwin, Shwekyin

Union Minister for Construction U Han Zaw officially opened Sittoung River-Crossing Bridge (Myo Soe) in Ottwin Township and Shwekyin Creek-Crossing Bridge in Shwekyin Township, Bago Region. The ministry has set objectives to equally develop roads, bridges and urban areas in regions and states fulfilling the ministry’s primary duty of infrastructure development. Special Bridge Team 10 of Bridge Department constructed the 1,200-foot-long two-lane reinforced concrete bridge, which is located on Kywepwe-MyoSoe-Zayetgyi Road.

The bridge’s upper sections are made up of steel plate girders that were manufactured by J&M Steel Solutions, a company joint-ventured by the Ministry of Construction and Japanese Company JFE. This is 44th bridge opened in Bago Region during the incumbent government.The bridge that connects the towns and villages on old Yangon-Mandalay Highway with eastern side of Sittoung River will bring benefits of economy, social, health and education to local people. The bridge will also connect Bago Region with Kayin and Mon states.At the opening ceremony, the Union Minster made opening remarks and the Chief Minster explained the conditions of regional development, ethnic unity and communications development.

Special Bridge Team 9 of Bridge Department constructed the 1,680-foot-long two-lane reinforced concrete bridge. The upper section of the bridge is made up of reinforcement concrete and pre-stressed post-tension technology.The bridge is one of the main bridges on Taungoo-Kyaukgyi-Shwekyin-Motpalin Road that connects eastern Bago Region with Mon State. The opening of the bridge will bring the developments of economy, social, education and health to 36,000 people in 27 villages of 13 village-tracts in Motpalin side.

Source: The Global New Light of Myanmar

MIC approve multi-million dollar industrial park in Hlegu

The Myanmar Investment Commission(MIC) on July 31 approved the US$230.6 million Hlegu Industrial Park, which will be developed by Singapore’s Sembcorp Industries. The project, set to cover some 1487 acres in Hlegu township,Yangon, was signed between Sembcorp CSSD Myanmar Co and local partners City Mart Holding Co Ltd (CMHL), and Myanmar Agribusiness Public Corp( MAPCO) in July 2019.Sembcorp is expected to hold a 67 percent stake in the project, while City Mart Holding and MAPCO will hold 18pc and 15pc, respectively.

The industrial park has already approved by the Yangon Region Assembly and will focus on food-based industries.Despite having received MIC approval though, the development will likely be delayed due to COVID-19 restrictions. The investors had been expecting MIC approval in January and construction to commence in March, but things were delayed by COVID-19. Once completed, the industrial park will feature an access road to Thilawa Port via the Yangon-Mandalay Road so that goods produced in Hlegu can easily be exported and also reach parts of the Myanmar hinterland.

Better known for building the US$310 million Sembcorp Myingyan Independent Power Plant in Mandalay, Sembcorp is not new to industrial development, having partnered with countries like China, Indonesia and Vietnam to create integrated townships and industrial parks. The Hlegu Industrial Park was one of seven new projects valued at US$462.7 million in total and with the potential to generate more than 3600 jobs. The other major new investment involves a US$180 million shopping mall from AEON Japan. Singapore, China and Thailand are the top investors in Myanmar this fiscal year, More than half the capital was channeled into the power and oil and gas sectors, while 15pc was channeled into manufacturing.

Source: Myanmar Times

YSX Live Talk Program (Webinar)

Title: Financing Opportunities in Myanmar Capital Market

Date: 7 August 2020, 1:30 P.M

Speakers:

  • U Kyaw Lwin Oo (Chairman, Ever Flow River Group Public Co., Ltd)
  • U Pyae Phyo Aung ( Deputy Senior Manager, YSX Deputy Director, Ministry of Planning, Finance and Industry)
  • U Htet Win Latt @ Vinay ( Manager, Investment Banking, Myanmar Securities Exchange Centre Co., Ltd)

Contact Address: http://www.facebook.com/ysx.myanmar/

Organizer: Yangon Stock Exchange