Signing of Joint Venture Agreement for 2nd Zone of Thilawa SEZ in Myanmar

Source: www.gulfoilandgas.com 10/21/2016, Location: Asia

MMS Thilawa Development Co., Ltd. (MMSTD), an equal investment liability partnership established by Mitsubishi Corporation, Marubeni Corporation and Sumitomo Corporation (“three companies”), has signed an Amendment of Joint Venture Agreement with the Japan International Cooperation Agency (JICA), Thilawa SEZ Management Committee (TSMC), and Myanmar Thilawa SEZ Holdings Public Ltd. (MTSH) for the development of a new phase in the Thilawa Special Economic Zone (SEZ) in Myanmar. The Thilawa SEZ is being developed and operated by Myanmar Japan Thilawa Development Ltd. (MJTD), a joint venture between the aforementioned partners (MMSTD, JICA, TSMC and MTHS).

MJTD, founded in 2013, has been developing the Thilawa SEZ’s 405-hectare “Zone A” (*Note 2), which was successfully opened in September 2015. Through this amendment, MJTD can now proceed to undertake industrial development at the 101-hectare Phase 1 of “Zone B,” in addition to the work it is already doing in Zone A.

Project construction will proceed on the basis of the progress made with completing the requisite procedures, including land acquisition and the appropriate resettlement of residents, which are being undertaken by the Government of Myanmar. This is the first public-private business partnership between Japan and Myanmar, and the three companies are committed to attracting wide interest from Japanese and other foreign investors to Thilawa SEZ. In so doing, they will draw on the support of both governments with a view to contributing to employment creation and economic growth in Myanmar.


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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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