KKATH Group won the bid to develop Kyisu Industrial Zone in Yangon’s Dagonseikkan Township, which may require an investment of Ks 17 billion.
The Yangon regional government announced recently that from five bidders, KKATH Group won the bid to develop the 170-acre land plot.
An official said that the developer would be responsible for infrastructure and facilities development. The construction works are expected to start in this fiscal year, added the official who asked not to be named.
“Of 170 acres, 45 acres are set aside from roads and other infrastructure and facilities. The industrial land will cover 125 acres. We estimated that the development would require an investment of Ks 17 billion,” the official said.
The industrial land will be leased on a 50-year term and after that the contract can be renewed every 10 years.
The Yangon regional government, to reap leasing fee from the land, promised to provide water, power and waste management service to the industrial zone.
Source: ELEVEN MYANMAR