71 projects worth $7.9B added to Myanmar Project Bank

A total of 71 new projects have been added to the Myanmar Project Bank since the start of the year, taking the list of projects to 129. The new projects include the US$900 million Yangon Elevated Expressway, $847 million No.1 Steel Mill in Myanmar in Myingyan, $660 million Sagaing international textile-based industrial cluster and the $524 million Bago-Kyaikhto highway.

The 71 projects have a combined value of $7.9 billion. The other projects include power infrastructure, solar and wind projects, roads and bridges, and recommissioning of state-owned factories. The Myanmar Project Bank was launched on February 26 with 58 projects. The loftiest project is the Yangon Central Station, which involves an investment of more than $2.1 billion. The project bank is an interactive web-based platform designed to highlight investment projects in line with the implementation of the Myanmar Sustainable Development Plan (MSDP) for 2018-2030.

The project bank represents “an online one-stop-shop, where all information on projects designed to implement the MSDP can be easily accessed with a single click”. It also establishes a reliable and transparent system which links major investment projects with appropriate sources if finance including Public-Private-Partnerships and provides more opportunities for the private sector to contribute to national development. All the projects are strategic in nature and align with MSDP.

Source: Myanmar Times

Tags: No tags

Leave A Comment

Your email address will not be published. Required fields are marked *