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Adani Group to develop container terminal port in Myanmar

Tuesday, 14 May 2019
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Adani Group has received approvals to develop a new container terminal in Myanmar. This will be Adani's second international port after Australia. The land where the port is proposed to be built has been leased from the Myanmar Economic Corporation (MEC).

 

The Adani Yangon International Terminal Company has received approval from the Myanmar Investment Commission for an investment in a new container port in the Yangon Region.

The Adani Group operates five ports in India, including Mundra and Hazira in Gujarat and has three terminals at ports in Murmugao, Vishakhapatnam and Tuna-Tekra. It is building a container terminal at Ennore in Tamil Nadu and Vizinjham port in Kerala.

Adani Yangon International Terminal, a company incorporated in Singapore, received approval from the Myanmar Investment Commission on 26 April 2019 to develop, operate and maintain the Ahlone International Port Terminal-2 (AIPT-2) under a 50 year build, operate and transfer agreement with the Myanmar government.

AIPT-2 in Ahlone township by the Yangon river will be developed across 50 acre of land owned by the Myanmar Economic Corporation, which is currently operating AIPT-1. The company will enjoy income tax incentives for the first three years of operations. Construction of the port, which will be built from scratch, is expected to begin in September 2019.

Phase-I of development will involve enough capacity to handle between one lakh and 1.5 lakh TEUs, or 20 ft containers, when it is completed within the targeted 12 months. Phase-II, which will take an additional six months to construct, is expected to take the port's total capacity to a maximum of eight lakh TEUs.

The port terminal will be built under the auspices of the Myanmar Port Authority, the Myanmar Ministry of Transport and Communication. AIPT-2 will be part of Yangon Port cluster on Strand Road in downtown Yangon, which includes the Asia World Port Terminal and Myanmar Industrial Port.

 
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