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Thai developer invests $1bn to put Myanmar industry on global map

Amata aims to woo foreign manufacturers with modern industrial zone in Yangon

Amata halted a $1 billion "smart city" project outside Yangon, Myanmar due to the coup. (Source photos by Reuters and Shinya Sawai) 

NAYPYITAW -- Thai industrial estate developer Amata Corp. plans to build an industrial complex with an investment of $1 billion in Yangon, Myanmar's biggest city. The complex will provide important industrial infrastructure in a nation with few global-standard industrial zones suitable for foreign companies.

Amata recently signed a land lease agreement and joint venture agreement with the Myanmar Ministry of Construction in the country's capital of Naypyitaw, securing the right to use 800 hectares of land in the northeastern part of Yangon for 70 years. Amata's investment will include construction of 600 megawatt power plant.

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