Summary of the Latest Status of Maritime Transport, Shipyard Upgrading, Logistics, Port Development and Management Project (King’s Bank Project) in Cooperation with Korea

• The MOU between the Republic of the Union of Myanmar, Ministry of Transport and Communications (formerly the Ministry of Transport) and the Republic of Korea, Ministry of Oceans and Fisheries for cooperation in the fields of port development was signed on 10^th April, 2013. The Scope of MOU include cooperation works such as Shipping, Maritime Logistics, Port Development and Feasibility Study associated with port areas.
• Regarding with feasibility study for Port development at Dala area, Working Level Meeting was held on 9^th April, 2019 at Myanma Port Authority. Minutes of Working Level Meeting between Myanma Port Authority and the Republic of Korea, Ministry of Oceans and Fisheries was signed on that date. To implement the Minutes of Working Level Meeting, Hyein E&C Co., Ltd which is appointed from Ministry of Oceans and Fisheries of the Republic of Korea undertook a feasibility study for Angyi and King’s bank areas.
• Amendment of MOU which is dealing with MOU signed on 10^th April, 2013 between Ministry of Transport and Communications and the Republic of Korea, Ministry of Oceans and Fisheries was signed on 3^rd September, 2019. The scope of amendment of MOU include Shipping, Shipyard Upgrading, Logistics, Port Development and Management, and Feasibility Study associated with port areas.
• Regarding with King’s Bank Port Development, the feasibility study with the total area of about 150 acres at Angyi and King’s Bank areas which include the implementation of Port Development, Port Hinterland, Angyi Dockyard Upgrading and Business Plan is being undertaking leading the Ministry of Oceans and Fisheries and comprising of Hyein E&C Co., Ltd., SOOSUNG Engineering & Consulting and Korea Maritime Institute. The Presentation of 2^nd Interim Report and 5^th Working Level Meeting were held at Myanma Port Authority on 7^th February , 2020.
• According to the work schedule, the Final Report which includes completed Feasibility Study and proposed plans had to be submitted to Myanma Port Authority in April, 2020. However, at present, due to the impact of COVID-19 in the world, Hyein E&C Co., Ltd requested Myanma Port Authority to submit the Final Report when the impact of COVID-19 will be recovered.
• As the COVID-19 epidemic is outbreating until now, the Final Report on the Feasibility Study, including a Business Plan regarding with the King’s Bank Port Development, was submitted to the Myanma Port Authority by a video conference. On 23-10-2020, a video conference was held to explain the Final Report by Director General and officals of the Ministry of Oceans and Fisheries to the Managing Director and officials of the Myanma Port Authority.
• We will continue the implementation in cooperation with the Ministry of Oceans and fisheries for King’s Bank Port Development.
• Regarding the implementation of the King’s Bank Port Development Project, Myanma Port Authority will continute to cooperate with the Ministry of Oceans and Fisheries. At the current time, the Korea Side has temporarily suspended to continue the cooperation of this project.