AMATA Signs Framework Agreement to Develop Smart&Eco City/Industrial Estate in Myanmar

The Board of directors’ meeting of AMATA Corporation Public Company Limited (AMATA) has approved AMATA to invest in developing Smart & Eco City and Industrial Estate in Yangon Region, Union of Myanmar with the objective to develop utilities, logistics, and service business in Smart & Eco City and Industrial Estate in Yangon Region. 

AMATA would like to update the project’s progress that on August 22, 2019, AMATA entered into the Framework Agreement with the Department of Urban and Housing and Development (DUHD), Ministry of Construction, Republic of the Union of Myanmar in order to jointly operate the project.
DUHD will hold the share not more than 20% in this project, provided that AMATA and DUHD will negotiate the Joint Venture Agreement, Share Purchase Agreement, and other related agreements within the timeline stipulated in the Framework Agreement within August 2021.