Shandong Agricultural Industry & Commerce Group Corporation provides $25.45 million supplier credit for Dry Dockyard Construction Project in Myanmar

In November 1999, Shandong Agricultural Industrial Group Co., Ltd. signed a contract with the Ministry of Communications of Myanmar for the Dry Dockyard Construction Project. This $167 million project was part of a broader upgrading of the 33 year Sinmalike dockyard by Myanmar Shipyards. According to various reports, Shandong Agricultural Industry & Commerce Group Corporation provided a $25.45 million supplier credit (loan) to the Government of Myanmar to support the project in 2001. The project involved the construction of a 168-meter-long and 28-meter-wide dry dock — including 1 docking room, 2 docks, and 4 auxiliary workshops — in Kamayut Township within the city of Yangon. Upon completion, it was expected that the new 25 acre new dry dock would will have the capacity to dock up to 12,000 dead weight tons (DWT). A formal groundbreaking ceremony for the project took place on February 2, 2001. The project was completed in January 2005, and it was officially handed over to the local authorities on March 30, 2005.

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