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Company Response

25 Feb 2015

Response by Wanbao: Myanmar Foreign Investment Tracking Project

...Since 2011, the Letpadaung project has paid three tranches of land compensation or subsidies to the villagers who had lost land in the project area. The total amount of compensation and three times of subsidies is between 1,825,000Ks and 3,250,000Ks per acre depending on the type of land. The compensation plus the first subsidy has been claimed by all impacted land-lost villagers. 66% of the total land-lost villagers have taken up the second subsidy, which means the majority of villagers have allowed for the release of their land to the project.

Wanbao had initially complied with Myanmar laws in terms of compensation to farmers in return for land use to the project. Wanbao then assisted the government further through giving more subsidies to the farmers for their land, to take into account the demands of the villagers and for the amount to reflect market prices...

Timeline