Thursday, 3 April 2014

Thilawa land to be sold out by May

Land plots from the Thilawa Special Economic Zone will be sold out by May, according to the Thilawa SEZ Public Company.

The company has already received 70 percent of proposals for the setting up of businesses in the SEZ which is due to open in 2015 outside of Yangon.

“Project must be submitted. We had bad experience before. Like plots were bought, kept and sold again at a higher price. Now a detailed project proposal must be submitted,” said Win Aung, chairperson of the Thilawa SEZ Public Company.

He added that those who did not meet with already-approved rules for buying land, will have their plots taken away and their money returned.

The price of land will not be announced yet but it has been reduced to 30 percent under the current the price of other industrial zones, he continued.

Only the companies approved to do businesses will be allowed to lease plots for long term periods. Proposals will also be taken into account for proper pollution and waste disposal.

“In Thilawa Special Economic Zone we watch and check even air pollution. Only industries with no pollution will be accepted. What we mean is that they must have a system of sewage disposal,” said Win Aung.

Thilawa Special Economic Zone was opened on November 30, 2013 and is due to start operating in 2015.

source: Eleven Myanmar
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