The company leading the planned New Yangon City development has said it has nearly finalised its proposal for the first phase of the multi-billion dollar-project. An article in The Irrawaddy said that the China Communications Construction Co., Ltd (CCCC) is in the final stage of negotiations with the New Yangon Development Company (NYDC) regarding the Pre-Project Documents. Technical and financial details of Phase One of the development, and a business model are expected to be included. Phase One  will include bridges, new roads as well as infrastructure for an industrial estate, including power distribution and transmission facilities. The initial infrastructure work is expected to cost more than US$1.5 billion, creating potentially millions of jobs.