Friday, August 18, 2017

Urban project developer in Mandalay upgrades city beltway

Construction work for phase one of the Amarapura Urban Development Project will begin in October, according to the officials from the developer.

The wastewater treatment plant being upgraded. Kyaw Ko Ko / The Myanmar TimesThe wastewater treatment plant being upgraded. Kyaw Ko Ko / The Myanmar Times

The project, which aims to support Mandalay’s modernisation, will involve 2,500 acres of land. The land will be created by reclamation along the Ayeyarwady River bank south of Mandalay in Amarapura township. The developer, Mandalay Business Capital City Development (MBCCD), is owned by domestic businessman U Maung Wate.

“The government plans to approve the project phase-by-phase.

“Environment-related issues have been thoroughly discussed with experts and details of the project have been submitted to the Myanmar Investment Commission [MIC].

“As we have bought 70 percent of the land in phase one, ground works will start by the end of this monsoon season,” MBCCD’s information officer U Zaw Ye Win said on July 25.

At present, the company is working on upgrading the public road infrastructure and repairing and constructing buildings. It has upgraded No 2 wastewater plant in Nge Toe ward, at a cost of K500 million (US$370,000). The plant was transferred to the Mandalay City Development Committee (MCDC) for management and operations. The beltway will be expanded from four lanes to six, U Maung Wate added.

“This project started under the previous government’s tenure.

“When we go on with our plan, we follow the proper procedures. The project was approved by the government after examining the environmental implications and experts’ opinions,” Dr Zaw Myint Maung said.

A memorandum of understanding (MoU) – which gives the MCDC 25pc of the project’s profits – was signed between the company and the MCDC.

The MBCCD plans to invest K500 billion as the initial capital but will continue to raise the necessary funds by selling company shares and securing bank loans. The entire project is expected to take place over the next 10 years, U Maung Wate added.

Amarapura Urban Development Project will include modern hospitality complexes, hospitals, schools, jetties, shopping centres, gardens and apartment buildings. It is expected to create jobs for around 10,000 people. The majority of the positions will be prioritised for local people, but foreigners will be employed in positions which demand technical expertise. The project is expected to create more than 70,000 jobs after construction, company officials said.

In mid-March, the company said that the Environmental Management Plan (EMP) on the Amarapura Urban Development Project would be ready within that month.

The Myanmar Times reported in March that the firm was preparing the environmental impact assessment and socio-economic impact assessment reports to ensure the project would not cause any environmental damage.

“We have made public our meetings on the project. The EMP report will be submitted to the Environmental Conservation Committee set up by the Union government at the end of this month,” said the company’s information officer U Zaw Ye Win on March 12.