24 Aug

THE Department of Urban and Housing Development and the Amata Corporation PCL signed a framework agreement for Yangon’s Smart and Eco City Project at a ceremony yesterday.

Yangon Region Chief Minister U Phyo Min Thein gave the opening address at the signing ceremony, which was held at the regional cabinet’s office. Afterwards, officials from both parties signed the agreement.

The project will be implemented as an industrial zone on 2,000 acres of land in Dagon East Township, and will cover the transportation infrastructure, assistance delivery, and other commercial services expected.

The project will take five years to complete, with the first phase beginning on 200 acres of land in November. The government department will contribute 20 per cent, while Amata will bear the remaining 80 per cent of the cost of the project.

The project is estimated to generate employment for over 30,000 local residents, create recreational areas, and not to cause any damage to the environment. Also present at the event were members of the Yangon Region Cabinet and responsible personnel of the Amata Corporation PCL.— Aye Min Thu (Translated by Zaw Htet Oo)