The Agreement with Tender Winner of Hanthawaddy Airport Hasn’t Signed yet Says an Official

The contract for construction of the new Hanthawaddy airport, won by JGC-Yongnam CAI Consortium, has not been signed and is still in the negotiation stage, sources said.

The implementation and negotiation committee for the airport project is led by second vice president Henry Van Thio.

The JGC-Yongnam CAI Consortium was chosen to build the new airport on October 30, 2015, and an initial agreement was signed on January 30, 2016.

“We had negotiations to sign the concession agreement in early 2017. Monthly negotiations are still taking place. The results of the discussion will be submitted to respective committees,” said Kyaw Myo, deputy minister for transportation and communications.

The government is planning to borrow US$890 million in Official Development Assistance from Japan for the project, which will cost a total of about US$2 billion.

At the present, Japanese government is cooperating with the government to approve the  ODA loan.


Source: Eleven Myanmar

NB: The best way to find information on this website is to key in your search terms into the Search Box in the top right corner of this web page. E.g. of search terms would be “property research report”, ”condominium law”, "Puma Energy", “MOGE”, “yangon new town”,"MECTEL", "hydropower", etc.