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YKK of Japan to build 33 million U.
- Subject: YKK of Japan to build 33 million U.
- From: FreeBurma@xxxxxxx
- Date: Tue, 14 Oct 1997 10:30:00
.c Kyodo News Service
YANGON, Oct. 14 (Kyodo) - The foundation-laying ceremony of a 20-story
service tower, to be built by YKK Corp. of Japan, was held Tuesday on
Kaba-Aye Pagoda Road, three kilometers north of downtown Yangon.
Lt. Gen. Khin Nyunt, secretary of the ruling State Law and Order Restoration
Council (SLORC), Myanmar ministers, Japanese Ambassador Yoichi Yamaguchi and
YKK Director Yoshiki Takeda took part in the bricklaying for the foundation.
YKK will invest 33 million U.S. dollars to build the 20-story building, to be
known as the Golden Hill Tower, which will have offices and residential
Mitsui Construction Co. will build the tower for YKK, a leading zipper maker.
Construction is expected to be finished within three years.
YKK will operate the building for 30 years, and hand over the establishment
after that period to the Myanmar government under the
build-operate-and-transfer (BOT) agreement.
This is the first investment in Myanmar by YKK, company officials said.