The Myanmar government is planning to expedite on pending public infrastructure works. While three companies have been given the go-ahead to work on Yangon development, the city’s outdated traffic light system will be upgraded at an investment of $20 million.
Yangon new city project award goes to three firms
Yangon South West Development Public Company, Business Capital City Development Ltd and Shwe Popa International Construction Company, a branch of Shwe Thanlwin company, will work on the ambitious Yangon new city project, Eleven Media reported.
“The three companies had applied for the project tender and have been approved. The estimated time taken for the development project will be 10 years”, said U Kyaw Soe, minister for Forestry and Energy, Yangon.
The new Yangon city will be located on the West of Yangon between Pun Hlaing river and Twante cannel. The project is expected to cover 11,700 acres. The companies are trying to raise funding from local and foreign banks.
Development work was stalled in September after criticism over the tender being issued to Myanma Satanar Myothit Public Co. earlier and later being given away to other companies.
Yangon traffic control system to get $20m update
Myanmar’s Shwe Yin Co. and China Railway Construction Company (CRCC), a construction company from China, will implement Yangon’s first traffic light control system estimated to require K20 billion ($20 million) investment.
Even though the government had allotted $20 million for the project, Shwe Yin company has estimated the cost at $18.9 million.
The company will provide free repair and service three years after completion. The project entails 154 automatic traffic lights, mobile installation traffic lights, 320 traffic lights for pedestrians, two mobile repair cars, 30 CCTV cameras, technical support up to five years and LED lights. The traffic control centre will be located at People’s Square in Yangon.
Source: http://www.dealstreetasia.com/stories/myanmar-go-ahead-to-three-firms-for-all-new-yangon-city-project-32675/
