Thilawa Port (IFC-37815)

  • Myanmar
Where the impacts of the investment may be experienced.
Specific Location
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Financial Institutions
  • International Finance Corporation (IFC)
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Project Status
Bank Risk Rating
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Feb 15, 2018
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
The holder of the loan, grant, or other investment.
  • Infrastructure
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 15.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 59.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Sep 16, 2019

Disclosed by Bank Dec 18, 2017

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Project Description

The proposed investment is a loan to support the development and operation of a greenfield bulk terminal in the Yangon region of Myanmar (the Project or the Terminal). The Terminal will have an effective capacity of 1 million metric tons (MT) and will include a jetty (230m) and an onshore complex with 40,000 MT of silos and 20,000 MT of grain warehouses. The Terminal will be operated under a 50-year Land Lease Agreement which includes built-operate-transfer type concession terms with the Myanmar Port Authority. The Terminal will primarily serve captive demand of agri commodities of Lluvia Limited (Lluvia) in addition to third party demand.

The Terminal will be built on Plot number 30 and 31 in the Thilawa Port Zone (TPZ). The approximately 8 km long TPZ is located on the eastern bank of Yangon River in the Kyauktan Township. TPZ is located roughly 16 kilometers downstream from the Yangon city port area and approximately 35 kilometers from the city by road.

Investment Description
Private Actors Description

The Terminal is being developed by Lluvia of Myanmar and Kamigumi Co, Ltd. (Kamigumi) of Japan who will own the Project company in the ratio of 75:25. Lluvia is a joint venture between Capital Diamond Star Group (CDSG) who owns 85% and Mitsubishi Corporation (Mitsubishi) who owns 15%. CDSG is a diversified conglomerate in Myanmar with operations spanning retail, real estate, health care, and financial services. Mitsubishi is a global integrated business enterprise, and Kamigumi is one of Japan’s largest integrated logistics companies and terminal operators.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Capital Diamond Star Group - CDSG Parent Company -
- - - - ERM Hong Kong, Ltd. Contractor -
- - - - Green Environmental, Health, Safety & Social Consultancy Co., Ltd. Contractor -
- - - - Kamigumi Co., Ltd Client -
- - - - Mitsubishi Corporation Parent Company -

Contact Information

Capital Diamond Star Group
Shuichi Sato
Chief Operating Officer Food and Retail Cluster
4th fl, No.9 (C1), Yawmingyi Street, Dagon Township, Yangon, Myanmar


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