BUSINESS— Sale of Thilawa leasehold rights begins

Leasehold rights for operations in Thilawa Special Economic Zone (SEZ) went on sale on Monday, available in 50-year terms with an optional extension of 25 years. Myanmar Japan Thilawa Development Ltd (MJTD), a joint venture made up of Myanmar Thilawa SEZ Holding Corporation and a consortium of Japanese corporations, namely Mitsubishi, Marubeni and Sumimoto is responsible for the sale. The Japanese firms are also responsible for business support and infrastructure provision and maintenance at Thilawa— including port services and power generation. The MJTD is supported by the Japan International Cooperation Agency.