China, Japan, India lead Myanmar lending

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Connecting road to the Dawei project site, southern Myanmar

The Myanmar government has budgeted borrowing over $900 million in fiscal year 2013/2014 to fund infrastructure construction projects, including two dams, a telecom network, and the expansion of the Yangon-Mandalay expressway, according to a draft plan for national investment.

The clear majority of the $900 million will be lent out by China, Japan and India, with China leading the investment pack with a total of $527 million of commitments, according to a document obtained by Eleven Media Group.

Myanmar’s giant northeastern neighbour will release loans for a $224-million telecoms network, $150 million for the expansion and development of the Yangon-Mandalay expressway, and $70 million to expand the recently constructed Hsedawgyi dam and $12 million to upgrade the Beeluchaung hydro power project, the document said.

Dawei gets Japanese support

In an official visit by newly elected Japanese prime minister Shinzo Abe to Bangkok on January 17, 2013, a tri-party mechanism involving Japan, Thailand and Myanmar was initiated.

It was announced during the meetings that Japan had taken interest in participating in developmental efforts for the lagging Dawei industry complex in Myanmar, which now carries a ballooning price tag of $10.8 billion for the first two phases alone.

Thailand and Myanmar both expressed their willingness to work together with Japan to develop mechanisms to get the project off the ground.

Joint committees set up by Thailand and Myanmar will work towards a master plan and details of the project are to be released by the first quarter of 2013.

During the trilateral meeting, Japan also agreed to loan $161 million to Myanmar, which will be applied to the expansion of power plants and power lines costing $58 million, and the expansion of the state-owned Kyangin cement plant at $47 million.

It was also released that India’s loan would amount to $211 million over the same fiscal year.

India will lend $100 million to upgrade and renovate Myanmar’s irrigation and drainage systems. And another $6.2 million will be used towards the installation of a telecom network in Chin State.

The remainder of the budgeted investment expenditure will be put towards the purchase of new trains and the renovation of existing rail lines.

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Reading Time: 2 minutes

Connecting road to the Dawei project site, southern Myanmar

The Myanmar government has budgeted borrowing over $900 million in fiscal year 2013/2014 to fund infrastructure construction projects, including two dams, a telecom network, and the expansion of the Yangon-Mandalay expressway, according to a draft plan for national investment.

Reading Time: 2 minutes

Connecting road to the Dawei project site, southern Myanmar

The Myanmar government has budgeted borrowing over $900 million in fiscal year 2013/2014 to fund infrastructure construction projects, including two dams, a telecom network, and the expansion of the Yangon-Mandalay expressway, according to a draft plan for national investment.

The clear majority of the $900 million will be lent out by China, Japan and India, with China leading the investment pack with a total of $527 million of commitments, according to a document obtained by Eleven Media Group.

Myanmar’s giant northeastern neighbour will release loans for a $224-million telecoms network, $150 million for the expansion and development of the Yangon-Mandalay expressway, and $70 million to expand the recently constructed Hsedawgyi dam and $12 million to upgrade the Beeluchaung hydro power project, the document said.

Dawei gets Japanese support

In an official visit by newly elected Japanese prime minister Shinzo Abe to Bangkok on January 17, 2013, a tri-party mechanism involving Japan, Thailand and Myanmar was initiated.

It was announced during the meetings that Japan had taken interest in participating in developmental efforts for the lagging Dawei industry complex in Myanmar, which now carries a ballooning price tag of $10.8 billion for the first two phases alone.

Thailand and Myanmar both expressed their willingness to work together with Japan to develop mechanisms to get the project off the ground.

Joint committees set up by Thailand and Myanmar will work towards a master plan and details of the project are to be released by the first quarter of 2013.

During the trilateral meeting, Japan also agreed to loan $161 million to Myanmar, which will be applied to the expansion of power plants and power lines costing $58 million, and the expansion of the state-owned Kyangin cement plant at $47 million.

It was also released that India’s loan would amount to $211 million over the same fiscal year.

India will lend $100 million to upgrade and renovate Myanmar’s irrigation and drainage systems. And another $6.2 million will be used towards the installation of a telecom network in Chin State.

The remainder of the budgeted investment expenditure will be put towards the purchase of new trains and the renovation of existing rail lines.

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