Korean firm proposes key development project for Dala

A top Korean construction firm has proposed a US$250-million development project for the Dala Township near Yangon.

Han Shin Construction proposed construction of a bridge to connect Dala with Yangon, an international harbour and a housing project in the township, according to Yangon City Development Committee (YCDC).

During a meeting with YCDC officials recently, Han Shin representatives expressed their interest for better development of Dala, which sits in a strategic location but remains largely underdeveloped due to absence of a bridge over Yangon River that could connect it with downtown Yangon.

The Korean company will carry out a primary inspection to the project area and, if YCDC agrees for the project, will submit official proposals for financial aids.

On receiving the official proposals from Han Shin, YCDC will submit those to Yangon regional government, which will later submit forward those to the central government.

Han Shin is also ready to work with the YCDC in a joint venture, officials said.

The South Korea branch of Overseas Private Investment Corporation, a US government’s development finance institution, has assured of loans for a Dala housing project, according to the Han Shin officials.

The ministry of construction and Han Shin are currently carrying out measurements for construction of four bridges between Yangon and Dala.