Adani Yangon International Terminal is developing a port terminal in Ahlone township, Yangon, to cater to increasing trade volumes. The Myanmar registered company received approval from the Myanmar Investment Commission on 26th April to develop, operate and maintain the Ahlone International Port Terminal (2) (AIPT) under a 50-year Build, Operate and Transfer agreement with the government, according to the Directorate of Investment and Company Administration (DICA). The AIPT (2) at USD 290 million value will be developed across 50 acres of land owned by Myanmar Economic Corporation. The construction of the port is expected to begin in September 2019. A DICA official said that the company will enjoy income tax incentives for the first three years of operations. The Yangon River has a draft of nine meters which allows for vessels of 167 meters in length and 15,000 tonnes in weight. When complete, the new terminal will be able to handle container ships of sizes between 1100 and 1500 TEU.