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New Yangon City Project CEO Questioned About Role of Chinese Firm

YANGON—Serge Pun, the CEO of the controversial New Yangon City project on Saturday partially disclosed the terms of a deal with a Hong Kong-listed Chinese firm that could see it provide infrastructure for the first phase of the development. The revelation came amid a question and answer session at a public meeting organized by the […]

Gas power plant in Mandalay to be ready by next February

The National Infrastructure Holding-led consortium (NIHC), comprising of three firms, will construct a 145MW gas power plant in Kyaukse township, Mandalay Region, according to consortium. The tender was launched by the Ministry of Electricity and Energy (MOEE) in March 2018 and NIHC consortium was awarded the tender last month, Director Daw Yi Yi Htwe from […]

Yangon threatens unregistered fibre optic firms with legal action

The Yangon government will take action against unregistered telecommunications companies providing services such as installation of fibre optic cables for commercial and residential customers, a regional minister said. Daw Nilar Kyaw, Yangon Region minister for Electricity, Industry, and Roads and Communications, told the regional parliament on Wednesday that next month, her office will join up […]

Alibaba buys Rocket Internet’s Daraz to expand its e-commerce empire into South Asia

Alibaba has expanded its e-commerce empire into South Asia after the Chinese internet giant acquired Daraz in an undisclosed deal. Daraz was founded in 2012 by Rocket Internet and today it operates in Pakistan as well as Bangladesh, Myanmar, Sri Lanka and Nepal. Rocket said in a statement that Alibaba has acquired the entire Daraz […]

Chinese Firm Joins Local Rice Miller to Bolster Industry

RANGOON — A Burmese rice milling company and the Chinese firm CAMC Engineering Co. Ltd. have signed a joint venture Memorandum of Understanding to improve the quality and capacity of rice milling operations in Burma, according to Thaung Win, the secretary of the Myanmar Rice Millers Association. Members of the Myanmar Rice Millers Association formed […]

Chinese Firm Signs $367-m Offshore Contract in Myanmar

Subscribe to our tender alert mailing list China’s state-owned Offshore Oil Engineering announced that the company and Petroleum Authority of Thailand has signed a Myanmar Zawtika Phase 1B EPCI contract and gained a local governmental approval. The contract covers design, construction and offshore installation of four wellhead platform and pavement of four subsea pipelines. Contracted […]

Myanmar Can Renegotiate Dam Deals to Keep More Power, Says Chinese Firm

YANGON — A Chinese firm that signed deals with Myanmar’s former military rulers to build hydro dams said it could renegotiate the terms, which would see some projects supplying 90 percent of power to China, in order to allow more power for domestic consumption. Myanmar’s unreliable power supply is undermining economic development in Asia’s second-poorest […]