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Published on Tuesday, 15 January 2013 19:26
Myeik Public Corporation has announced plans for seven construction projects, including an economic zone, near the border with Thailand in the southern region of Taninthayi, MPC director Myo Aung told Eleven Media.
The 350-hectare Maunttaung Region Economic Zone in Taninthayi Division’s Myeik District will be the most ambitious of the projects, which combined will cost 50 billion kyats (about US$58 million) to build, Myo Aung said.
MPC plans to invest K10 billion this year and has already raised K7 billion by selling shares at K100,000 apiece, he said.
“We have already started construction on a housing project and a motorway,” the corporation’s director said, adding that it was also ready to sell shares to the public.
Along with the economic zone, which is being marketed as a springboard for border trade, MPC plans to tap the tourist market with an island resort, hotel zone, marine park, up-market housing and an eco-resort in the district.
Myo Aung said the economic zone had already attracted investors from both sides of the border and that the region was already seeing a rise in tourism.