Yangon overpass project information made public in Thingangyun and South Okkalapa Townships on February 16

A public briefing on the Yangon overpass project was held in Thingangyun and South Okkalapa townships on February 16, according to Ministry of Construction.

The project will cost between $ 800 million and $ 1,000, and the bridge project company will have to hand over foreign currency for their investment to the Central Bank of Myanmar.

In implementing Yangon overpass Project Part 1, some houses and buildings in South Okkalapa, North Okkalapa and Mayangone Townships will be damaged and the other five townships will not be affected, according to reports.

They will be compensated for the damage caused by the project and will also be considered for their business position.

Investors will be allowed 35 years to collect the bridge fees, which will range from 1,300 to 2,800 kyats, depending on exchange rate of U.S. dollar. After completing a 35-year company period, the government of Myanmar has the right to continue collecting the fees. It will be available from August 2025 this year. Yangon overpass implementation will begin in 2020 August and it can be used in 2020 May, according to reports.

Written by iMyanmarHouse.com Team

Credit: iMyanmarHouse.com