Govt plans to lease out religious land
Play
The government is planning to lease out a 13-acre religious land in Kyaikhtiyo Pagoda for 50 years to Sky Asia Co to construct a cable-car system, according to the Environmental Conservation and Forestry Ministry.
Sky Asia is a joint venture between a Myanmar company, Asia International Fisheries Co and a South Korean company, JV. The Korean firm will install a cable-car system on the 13 acre-land with a leasing rate of Ks 8,333 per month.
The JV recently submitted the proposal to the ministry and is awaiting approval from the government.
Last August, the Agriculture and Irrigation Ministry planned to lease 300-acre land near Kyaikhtiyo Pagoda to Shwe Than Lwin Highway Co. with a leasing rate of Ks 1 million per acre but the plan failed to materialise. Another attempt to lease the land to Shwe Than Lwin also failed.
According to the proposal made by Shwe Than Lwin, it plans to build hotel, restaurant and parking on 300-acre land.
