Adani Yangon International Terminal was awarded approval from Myanmar in order to develop, operate and maintain the Ahlon International Port Terminal (2) in Ahlon, Yangon, on April 26. The approval comes as trade volumes are expected to grow in this area in the coming years.
As local media informed, Adani Yangon International Terminal will develop, operate and maintain the Ahlon International Port Terminal (2) under a 50-year build, operate and transfer agreement with Myanmar.
AIPT (2) will be built along 50 acres of land that the Myanmar Economic Corporation, the operator of AIPT (1), owns.
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Building of the new terminal will start in September 2019, under a USD 290 million deal. Specifically, it will be built in two phases, aiming to be able to handle up to 150,000 TEU after the first phase is completed.
It also aspires to reach a maximum of 800,000 TEU, when the second phase is done.
The two phases are expected to be finalized in 12 and 6 months, respectively, after the construction works begin.
