October 19, 2017

Dry ports to be constructed in Ywathagyi and Myitnge

Myanma Railways Managing Director U Thurein Win and Kerry Logistics Network Co. Ltd Chairman Mr. George Yong exchanging the agreements. Photo: MNA

Myanma Railways under the Ministry of Transport and Communications and Kerry Logistics Network Co., Ltd & Resource Group Logistics Co., Ltd. signed a land lease agreement at the Park Royal Hotel, Nay Pyi Taw yesterday to construct a dry port under the Build, Operate, Transfer (BOT) system. Union Minister U Thant Sin Maung said this signing ceremony was held because the Myanmar Investment Commission permitted the construction of a Dry Port on 80 acres of land owned by Myanma Railways in Ywathagyi, Yangon Region and 75.1 acres of land in Myitnge, Mandalay Region.
Expressions of Interest (EOIs) were solicited from foreign investors for the construction of a dry port, and, after a transparent selection process held according to international tender norms, Singapore-based Kerry Logistics Network Co., Ltd and Myanmar citizen-owned Resources Group Logistics Co., Ltd. were announced as tender winners on 10 January, 2016.
After a number of discussions between Myanma Railways and the two companies, a BOT agreement and land lease agreement was prepared, according to the Union Attorney General’s office and the Myanmar Investment Commission.
Myanma Railways Managing Director U Thurein Win, Kerry Logistics Network Co. Ltd Chairman Mr. George Yong and Resources Group Logistic Company Chairman U Maung Kyay signed and exchanged copies of the agreement in the presence of the Union Minister.—Myanmar News Agency

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