On 24th January 2020, the MOU signing of Joint Venture Agreement and Land Lease Agreement between Department of Urban and Housing Development, Ministry of Construction and Amata Asia (Myanmar) Limited to launch “Yangon Amata Smart and Eco City”
The Department of Urban and Housing Development (DUHD), Ministry of Construction and AMATA Asia (Myanmar) Limited officially signed a joint venture agreement and land lease agreement of Yangon AMATA Smart and Eco City (YASEC) project in Nay Pyi Taw at Kempinski Hotel in Nay Pyi Taw on 24th January, 2020.
Also present at the occasion were H.E. Mrs. Suphatra Srimaitreephitak, Ambassador of Thailand to Myanmar, H.E. U Han Zaw, Union Minister for Construction, H.E. U Kyaw Lin, Deputy Minister of Construction, H.E. Daw Nilar Kyaw, Ministry of Electricity, Industry, Transport and Communication of Yangon Regional Government, H.E. U Aung Naing Oo, Permanent Secretary, Ministry of Investment and Foreign Economic Relations and Mr. Vikrom Kromadit, CEO of Amata Corporation.
From left to right – Mr. Yasuo Tsutsui, MD of Yangon Amata Smart and Eco City, Mr. Narongrit Jongkolvadee, GM of Amata-Bangkok Industrial Co., Ltd. and Mr. Perapat Piboonlarpudom, GM of Yangon Industrial Gas Co., Ltd.
Apart from that, YASEC also signed MOU with Yangon Industrial Gas Co., Ltd. The MOU agreement was signed by Mr. Yasuo Tsutsui, MD of Yangon Amata Smart & Eco City, Mr. Narongrit Jongkolvadee, GM of Amata–Bangkok Industrial Co., Ltd. and Mr. Perapat Piboonlarpudom, GM of Yangon Industrial Gas Co., Ltd. The agreement highlights the roles of YIG in ensuring all kinds of industrial gas supply for industrial zone development of YASEC.
The 2000-acre “Yangon Amata Smart & Eco City” will be located in East Dagon Township, Yangon. It aims to develop the industrial estate with high technology and innovation and responsibility for society and environment. The first phase of the project will be developed within 5 years and the construction will start immediately by the first quarter of 2020 with the construction of power plant and water treatment facilities. The construction of first factory of the city will start by 2021. This project also aims to create 33,000 jobs.