IFC Approves Support for Controversial Tycoon’s Mandalay Cement Project

The World Bank’s private sector lending arm the International Finance Corporation (IFC) has given the go ahead to support a multi-million dollar plan to expand a cement factory in Mandalay Region, operated by the Shwe Taung Conglomerate. The firm’s chairman, Aik Htun, had been alleged by US authorities to have had ties to the drug […]

Ministry to Develop Specialized Textile and Garment Zone

​​ The union minister for industry has said that 127 acres of land in No.1 Garment Factory located in Shwe Taung, Bago Region, will be transformed into a Specialized Textile and Garment Zone (STGZ). Khin Maung Cho, said the ministry will invite potential local and foreign investors to develop the zone to manufacture high quality […]

Shares Outstanding as Public Bus Company Nears Launch

Burma’s first public bus company, which is expected to launch routes in Rangoon late this month, has so far raised 3.8 billion kyats (US$2.9 million) in a sale of shares to fund the first phase of the transportation service, according to an official. The project will introduce a Bus Rapid Transit (BRT) system to Rangoon, […]

Shwe Taung launches $300m project in downtown Yangon

Shwe Taung Group of Companies yesterday launched a mixed-use project worth US$300 million in the centre of Yangon, demonstrating that the local conglomerate has shaken off its controversial past to emerge as a viable partner in the eyes of many international investors. Junction City, designed by DP Architects from Singapore, will include a five-star hotel […]

Ministry of construction announces procurement result of Maubin-Pyapon road rehabilitation project

Subscribe to our tender alert mailing list REPUBLIC OF THE UNION OF MYANMAR MINISTRY OF CONSTRUCTION DEPARTMENT OF HIGHWAYS Procurement Result of Maubin-Pyapon Road Rehabilitation Project (ADB Loan 3199-MYA) Department of Highways, Ministry of Construction invited bids for Maubin- Pyapon Road Rehabilitation Project funded by the Asian Development Bank (ADB) on 13.9 2014 and the […]

Compensation key for cancelled projects

Popular concern that the projects could undermine nearby Shwedagon or block the view of the famous landmark was driven by the monk-led Save Shwedagon Campaign. Yet the companies themselves had put considerable time, money and effort into the project, and as far as they knew were following the law. With the developments now finished, experts […]

Changes to five condominium projects mulled by YCDC

Yangon City Development Committee is now putting together a master plan on five paused construction projects after two other official bodies weighed in with recommendations, according to government officials. The five were initially suspended in late January following concern from some members of the public and government officials that the height of the projects may […]

Debate rages on Yangon waterfront’s future

The port facilities ringing Strand Road on the Yangon River are being upgraded even as some experts are calling for increased public use of Yangon’s waterfront. Myanma Port Authority is overseeing the construction of 10 new jetties by a range of companies, all of which are slated to open this year. Plans include constructing more […]

Five projects near Shwedagon are suspended

Five large construction projects have been suspended by government authorities due to concerns over proximity to Shwedagon, according to local media. The Thu Kha Yadanar Co, Shwe Taung Hday Development, Dagon City 1 by Marga Landmark, Shwe Taung Development and Adventure Myanmar Tour and Incentives projects have all been put on hiatus while Yangon and […]

NEC, Shwe Taung to Provide Network and Security Infrastructure for MICC

Local conglomerate Shwe Taung Group together with NEC Asia Pacific announced that the firms will provide network and security infrastructure for the Myanmar International Convention Centre in the country’s capital Nay Pyi Taw. Through the deal, NEC Asia Pacific, a subsidiary of Japanese IT and network technologies company NEC Corp, will be the main information […]