Grant Agreement Signed for Mandalay Port Development
- Business & Finance
The Japan International Cooperation Agency (JICA) signed a grant agreement (October 3) with the Government of Myanmar in Yangon, to provide grant aid of up to $53 million for the Mandalay Port Development Project.
The objective of the project is to modernize the Port in Myanmar’s second largest city, Mandalay, which is located in the economic center of the northern region of Myanmar.
According to JICA, this will be done through land reclamation, the construction of terminal/berthing facilities and the mechanization of cargo handling facilities.
Mandalay Port is one of the most important river ports in Myanmar for domestic water transportation.
Many passenger and cargo vessels travel between the port and Yangon, which is the largest city in the country and the center of economic growth, and as a base for transportation and goods distribution, the port supports the lives of people in the northern region.
However, the port has no cargo-handling facilities and uses only the natural riverbank, and therefore water transportation efficiency is extremely poor.