New Yangon Development Company (NYDC) Signed Framework Agreement With China Communications Construction Company (CCCC)
New Yangon Development Company (NYDC) signed a Framework Agreement with China Communications Construction Company (CCCC) to carry out the necessary surveys and studies to implement Yangon New City project, according to a statement by the Yangon Regional Government.
“We expect to strengthen ties between Myanmar and China and to get the public’s support. That’s why, we sign a framework agreement with the China Communications Construction Company (CCCC) to carry out the necessary surveys and studies to set up the project,” said Yangon Chief Minister.
CCCC is one of the largest international construction companies in the world, said the Chief Minister of CCCC.
The first phase of Yangon New City project will be implemented on 20,000 acres of land.
At least a population of three million people will be able to live in the project area and it will create 20,000 plus job opportunities, according to the statement by the Yangon Regional Government.
The project will include the construction of five villages, two bridges, 26 km artery roads, 10 sq km of industrial zone, power plants, transmission and distributions facilities, fresh water supplies and wastewater treatment plants.
The infrastructure works of the Phase 1 of the New Yangon City project will be cost at a sum of US$ 1.5 billion.
When complete, the new city will be large twice than Singapore, according to a release from the new Yangon Regional Government-owned company.
NYDC is established by the Yangon Regional Government with the budget of MMK 10 billion and U Thein Wai was appointed as the Deputy Chairman and Chief Executive Officer for NYDC.
Daw Ni Lar Kyaw, Minister of the Ministry of Electricity, Industry, Transport and Communication is the Chairman of NYDC. U Han Htun, Minister of the Ministry of Agriculture and Irrigation and Geroge Yeo, former Minister of Singapore as well as U Htun Myat, former United Nations Security Coordinator are appointed as the Directors of NYDC.
Credit: 7Daydaily
Translated by: iMyanmarHouse.com
