Myanmar: MYA: Yangon Urban Renewal and District Cooling Project

Nonsovereign Project | 47913-001

The Project is a landmark urban renewal, district cooling and heritage restoration project in central Yangon, comprising a district cooling plant and network (DC Plant), nearly 2 million square foot of hotel, retail, office and residential space across four 26- story towers and the preservation of a historical Victorian building, the former headquarters of the British Burma Railway Company. This grand heritage building, called The Old Lady , was built in 1877. The Project will be an anchor development, forming a central part of the business infrastructure of Yangon. ADB s loan will be dedicated to fund the DC Plant, which will be the first energy efficient district cooling system in Myanmar. The DC Plant will have a capacity of [8] MW and will provide sustainable, efficient, reliable, and essential cooling to the district. The DC Plant will generate cool water and distribute it through a network of piping systems to individual buildings of the Project.

Project Details

  • Project Officer
    Singh, Samarendra
    Private Sector Operations Department
    Request for information
  • Country
    Myanmar
  • Sector
    • Water and other urban infrastructure and services
Project Name MYA: Yangon Urban Renewal and District Cooling Project
Project Number 47913-001
Borrower/Company Mee Ya HTA International Hotel Limited
Meeyahta Development Limited
Country Myanmar
Location
Type or Modality of Assistance
3137 Guarantee Ordinary capital resources USD 20.00 million Committed
3137 Loan Ordinary capital resources USD 50.00 million Committed
64 B-Loan Other USD 30.00 million Committed
Strategic Agendas Environmentally sustainable growth
Inclusive economic growth
Drivers of Change Partnerships
Private sector development
Sector / Subsector

Energy / Energy efficiency and conservation

Water and other urban infrastructure and services / Other urban services

Gender Equity and Mainstreaming Some gender elements
Responsible ADB Department Private Sector Operations Department
Responsible ADB Division Infrastructure Finance Division 2
Responsible ADB Officer Singh, Samarendra
Project Sponsor(s) FIRST MYANMAR INVESTMENT
MITSUBISHI CORPORATION
Mitsubishi Estate
Yoma Strategic Holdings
Description The Project is a landmark urban renewal, district cooling and heritage restoration project in central Yangon, comprising a district cooling plant and network (DC Plant), nearly 2 million square foot of hotel, retail, office and residential space across four 26- story towers and the preservation of a historical Victorian building, the former headquarters of the British Burma Railway Company. This grand heritage building, called The Old Lady , was built in 1877. The Project will be an anchor development, forming a central part of the business infrastructure of Yangon. ADB s loan will be dedicated to fund the DC Plant, which will be the first energy efficient district cooling system in Myanmar. The DC Plant will have a capacity of [8] MW and will provide sustainable, efficient, reliable, and essential cooling to the district. The DC Plant will generate cool water and distribute it through a network of piping systems to individual buildings of the Project. Construction of the DC Plant will be in tandem with the Project which is expected to commence in 1Q 2014 with schedule completion in 2 phases over 4 years.
Objectives and Scope The project will increase business and tourism, while preserving and protecting Myanmar's heritage. The project will help alleviate the acute supply shortage in the city, stimulate tourism and commercial activity, and promote energy efficiency. The district cooling plant will generate cool water and distribute it through a network of piping systems to individual buildings in the district.
Linkage to Country/Regional Strategy

ADB assistance for the project is aligned with Strategy 2020 which supports environmentally sustainable, private sector-assisted development in meeting growing energy demand in the region and in addressing critical infrastructure shortages. The assistance is also aligned with the interim country partnership strategy, 2012 - 2014 as it supports environmentally sustainable development by integrating environmental considerations into projects for promoting green and climate resilient growth. The interim strategy also aims to accelerate economic growth; create income opportunities; and create a supportive environment for the private sector, in particular small and medium-sized enterprises.

The project is consistent with ADB's Energy Policy and Urban Operational Plan 2012 - 2020; both emphasize environmental sustainability and private sector participation, including specific investments in district cooling. The project is consistent with (i) the Urban Development and Water Sector Assessment, Strategy and Road Map, which emphasizes modern wastewater treatment management; and (ii) the ADB-assisted Tourism Master Plan, 2013 - 2020, which includes preservation of heritage buildings.

Safeguard Categories
Environment B
Involuntary Resettlement C
Indigenous Peoples C
Summary of Environmental and Social Aspects
Environmental Aspects The borrower prepared an initial environmental examination to cover all aspects of the project following ADB Safeguard Policy Statement (2009). The initial environmental examination includes an environmental and social management plan to adequately address potential impacts during construction and operation, such as noise, dust, water quality, solid and liquid waste, hazardous waste, exposure of workers to occupational health and safety hazards, and cultural heritage conservation. To minimize and mitigate potential impacts, the project will be designed, constructed, operated and maintained in accordance with ADB's Safeguard Policy Statement requirements, the World Bank Group's general environment, health and safety guidelines and national environment laws and regulations.
Involuntary Resettlement The project is not expected to have involuntary resettlement impacts. Due diligence confirmed that no informal settlers or vendors use the project area.
Indigenous Peoples The project is not expected to have indigenous peoples impacts. Due diligence confirmed that the project area and surroundings have no record of settlements of ethnic groups or indigenous peoples.
Stakeholder Communication, Participation, and Consultation The borrower engaged stakeholders in the surrounding areas during the project design. A grievance redress mechanism to address public complaints is in place. Consultations carried out as part of the initial environmental examination did not identify any outstanding grievances.
Timetable for assistance design, processing and implementation
Concept Clearance 17 Jun 2013
Credit Committee Meeting -
Approval 26 Jun 2014
PDS Creation Date 05 Jun 2014
Last PDS Update 05 May 2021

Project Data Sheets (PDS) contain summary information on the project or program. Because the PDS is a work in progress, some information may not be included in its initial version but will be added as it becomes available. Information about proposed projects is tentative and indicative.

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Safeguard Documents See also: Safeguards
Safeguard documents provided at the time of project/facility approval may also be found in the list of linked documents provided with the Report and Recommendation of the President.


Evaluation Documents See also: Independent Evaluation

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Related Publications

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