OREANDA-NEWS. Mitsubishi Corporation, Marubeni Corporation and Sumitomo Corporation have set up a limited liability partnership to carry out a feasibility study and an environmental impact assessment for the initial sector to be developed at the Thilawa Special Economic Zone in Myanmar. The three-company venture, registered on April 18 as MMST, has a paid-in capital of 294 million yen (equal sums contributed by each partner) and is headquartered in Tokyo's Chiyoda district.

The area designated the Thilawa Special Economic Zone by the Myanmar government covers some 2,400 hectares of land and is located approximately 20 km south of Yangon. As part of plans to develop the area, the three companies started a joint feasibility study in the summer of 2012 to look into investing in the initial 420-hectare section of the property (Class A Area) slated for development. The partners therefore set up the limited liability partnership to serve as the business entity responsible for completing the feasibility study and conducting an environmental impact assessment - critical to the execution of proper feasibility evaluation. The environmental impact assessment is slated for completion during the autumn of this year.

Once developed, the industrial complex will serve as an entry point for Japanese and other foreign companies seeking to invest in Myanmar, thereby contributing to the country's industrialization and economic development. Through the limited liability partnership, the three companies will keep a keen eye on developments in Myanmar and will base their investment decision on the likely impact of the complex on the local environment and the Myanmar government's approach to the relocation of citizens currently occupying the property.