Myanmar pushes development of Yangon port

YANGON, Dec. 25 (Xinhua) -- Myanmar is pushing development of Yangon Port, working for upgrading the Yangon port region into an international standard one as part of its plan for urbanization of the commercial hub of Yangon.

Local and foreign investment have been invited for the development of Yangon Port which is being undertaken under four programs.


Upgrading work includes extension of retaining wall of the port deep into the river, filling earth and construction of recreation centers and shops on the site, upgrading of some pontoon bridges into ones that can handle containers and international general cargo vessels, equipping freight-handling equipment and constructing port facilities including modern business buildings within the compound and building of inland port terminals in Yangon port.

Yangon Port has a total of 18 pontoon bridges transporting containers, edible oil and general cargoes.

The 2011-12 fiscal year saw 885 more foreign vessels moored at these pontoon bridges compared with 2002-03, a significant surge by 93 percent.

Meanwhile, the Yangon port authorities has invited tenders for upgrading work of Yangon Port into international standard one and one of the private companies, the Pearl Land, was awarded the contract with 15-year land lease for the development.

The cargo volume that Yangon Port is handling has reached 70 percent of its freight handling capacity under a master plan for development of Yangon Port including the construction of pontoon bridges.

Upon completion of the projects, Yangon is expected to become more commercially central and have the full characteristics of a commercial hub. It would be revitalized into former status of a famous city across Asia.

Citizens and Yangonites have been urged to support the projects which are believed to bring about economic opportunities for the country and the people and restore the lost reputation of Yangon.

In the latest development, four countries of the United States, South Korea, Japan and China are planning to make investment in upgrading Yangon city to having modern urban characteristics.

There have been more than 10 foreign business groups making deal with Yangon regional government for investing in economic sectors.

Bringing in foreign investment into the country will give rise to sound infrastructure in terms of technology and quality and create more job opportunities for local people, regional government official said.

At present, construction companies from Japan and South Korea, in collaboration with some domestic private construction companies, are engaged in city construction.

Meanwhile, Japan International Cooperation Agency (JICA) is drafting a 40-year Yangon City upgrading plan, which is expected to be finalized by 2013.

In a move to ease traffic jam, overpasses are being planned in some traffic junctions including Hledan, Shwegondaing, Tarmwe and Bayintnaung. Of them, those at Hledan and Bayintnaung has begun construction.

The 40-year upgrading plan also cover port terminals at Yangon Port in line with international standard in collaboration with private entrepreneurs under joint-venture basis or build-operate- transfer (BOT) system.

The Yangon port handled 1.727 million tons of containers and 1. 792 million tons of general cargo in the first four months (April- July) of the fiscal year 2011-12, up 287,000 tons and 464,000 tons respectively and correspondingly.

With a population of over 6 million and an area of 795 square- kilometers, Yangon city is demarcated as 45 townships, of which 33 represent the municipal area.

source: Xinhua
http://news.xinhuanet.com/english/world/2012-12/25/c_132062113.htm