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The construction of Korea – Myanmar Industrial Complex (KMIC) is expected to commence before the end of this year despite COVID – 19 pandemic
22 Jun 2020
Construction of the Korea-Myanmar Industrial Complex (KMIC) in Yangon is expected to commence before the end of the year despite the COVID-19 pandemic, Kim Gun-Woo, general manager of Korea Land and Housing Corporation representative office in Myanmar, told The Myanmar Times.
“According to our plan, we will be done with the detailed design in September, after which a tender to develop the project will be called in October. The winning bidder will be announced in November. We expect to begin construction in December,” Mr Kim said.
The KMIC is being built as a 60-40 joint venture by government-owned Korea Land and Housing Corp and Myanmar’s Ministry of Construction. The Koreans will oversee the construction of the US$110 million industrial complex, which will take place across 555 acres of land north of Yangon, near Nyaung Na Pin Village in Hlegu.