December 15, 2016

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No plans to invite more shareholders for Zone-B at Thilawa SEZ

A building is under construction in the Thilawa Special Economic Zone. Photo: Ye Myint
A building is under construction in the Thilawa Special Economic Zone. Photo: Ye Myint

THE Myanmar Thilawa SEZ Holdings Public Ltd said it has no plans to invite new shareholders for Zone-B at the Thilawa SEZ project. “Shares will be sold to public if necessary,” U Win Aung, Chairman of MTSH, replied to shareholders and media at the company’s second annual general meeting yesterday. He added,“Currently the company has no plans to invite new shareholders to the Zone-B project at Thilawa SEZ in southeastern Yangon,which covers an area of 500 to 700 hectares. We will implement the Zone-B project with the use of current investment levels.”
U Min Naing, who owns 30 shares of MTSH, said the share value of Myanmar Thilawa SEZ Holdings Public Ltd has gone up fivefold within two years. “It is expected to go on rising.”
Since its establishment in January, 2014 the MTSH’s share price has risen from K10,000(US$7.67) per share to K50,000 ($38.35).
The 396-hectare Zone-A projectof Thilawa SEZ,which is located 25 kilometers southeast of Yangon, will be completed in two phases. Initiated in late November 2013, the first phase comprising the development of 211 hectares was put into operation in September.
The second phase of theZone-A project comprising 150 hectares has been under construction and is scheduled to be completed by mid-2016.
Essential infrastructure developments to support the Thilawa SEZ with Japan’sODA loan is also on track, U Win Aung said.
“Construction of a 50 MW power plant and gas pipeline are on schedule. Road expansion works from Thanlyin Bridge to Thilawa SEZ, sea port construction and water supply pipeline construction are expected to be carried out next year.”

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