Japan-funded grain bulk terminal opens in Myanmar
YANGON, NNA - A $65 million grain bulk terminal built with Japanese investment has opened in Myanmar, aiming to meet the country's growing demand for wheat products following the westernization of eating habits.
The terminal, run by joint venture International Bulk Terminal (Thilawa) Co., is some 20 kilometers southeast of Yangon and next to the Thilawa Special Economic Zone, Myanmar's first special economic zone funded by the Japanese government.
Japanese logistics company Kamigumi Co. owns 25 percent of the venture, set up in 2017, with food firm Lluvia Ltd holding the rest.
The 80,000-square-meter site is the first bulk terminal for grain in Myanmar, and is equipped with a 230-meter-long quay for large ships.
Japan Overseas Infrastructure Investment Corporation for Transport & Urban Development, a Japanese public-private fund, invested 1.7 billion yen ($15.8 million) in the venture this year.
The port will handle an annual 1 million tons of products, consisting mainly of wheat and soybean meal, according to the fund.
Wheat flour imports in Myanmar soared from $500,000 in the fiscal year through March 2014 to $14.9 million in the fiscal year through March 2018, according to government data. (NNA/Kyodo)