International Finance Corporation (IFC) is providing $15 million in long-term financing to the International Bulk Terminal (Thilawa) Company Limited to develop and operate one of the first bulk terminals in Myanmar. The project is estimated to cost $65 million.
Local agriculture processing company Lluvia and Japanese integrated logistics company Kamigumi jointly set up the International Bulk Terminal (Thilawa) Company. It will build the bulk terminal at Thilawa, a deep river port located 25 kilometers south of Yangon, Myanmar’s largest city.
The terminal will have an effective capacity of more than one million metric tons. It is expected to reduce transport and logistics costs and boost trade and competitiveness of supply chains, creating markets and jobs.
In the absence of specialized and efficient bulk facilities, producers and traders in Myanmar are forced to containerize bulk commodities, which involves high handling costs.
IFC said its investment in the Thilawa bulk terminal will help create a market for the movement of bulk agricultural commodities, such as wheat, animal feed, and rice.
IFC, a member of the World Bank Group, is a global development institution focused on the private sector in developing countries.
Read the news release at IFC.org.