One of Myanmar's leading
construction companies has reportedly submitted an application to
authorities for undertaking industrial park and housing projects on
5,300 acres of land in Bago Region.
Kaytumadi Development Public Co., Ltd is
planning to use 4,800 acres of land for the international-level
industrial park project and another 500 acres for the housing project in
Taungoo, Bago Region.
The company has also mentioned in the
application that the land for those projects is in its possession. Up to
Ks 5,000 million (about US$5 million) will reportedly be used for the
two projects that will take five years to complete.
The industrial park project is said to
have 25 businesses including hotel and industry while the housing
project will include seven businesses.
The Bago Region government accepted the
application and has submitted it again to central level government
organisations for approval.
Established with a capital of Ks 300
billion, Kaytumadi Development Public Co is closely related to Khin
Maung Aye, who is the chairman of the Cooperative Bank, one of the
famous private banks in the country.
source: Eleven Myanmar
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