Simikhone Ayeyarwaddy Harbour, which is being constructed in Mandalay’s Myothar Industrial City, is to begin operations in December.
The harbour is being constructed on 400 acres of land in Myothar Industrial City, which is over 10,000 acres of area.
U Tun Yin, managing director of Myothar Industrial Development Plc, told Myanmar Business Today, “The harbour is being constructed with the designs drawn by experts from Switzerland. The operation of putting on or taking off the goods on ships will start in December this year.”
Myothar Industrial City project is being implemented in six phases jointly by the Mandalay regional government and Myothar Industrial Development Plc. The ambitious project started in 2014 and will take 15 years to complete.
U Tun Yin said, “The project is specified as a 15-year project but it can be finished earlier if everything goes right.”
Investments from Myanmar, China, India and Thailand have been put in for this industrial city project. The price of land in the project is purported to be K1,100 to K6,500 per square foot on a 70-year lease. The price may change in the future depending on the demand, project officials said.
Source: Myanmar Business Today