Hanthawaddy Airport Project Agreement Has Expired : Yongnam Holdings

The framework agreement to build the Hanthawaddy International Airport signed between the Department of Civil Aviation and the consortium had expired but it has not yet been renewed due to the certain unresolved issues, according to an announcement of Yongnam Holdings.

The consortium which includes Japan’s JGC Corporation, Singapore’s Yongnam Holdings and Changi Airport International won the initial tender in October 2014. The agreement has expired on January 2018.

The Japan’s JGC Corporation holds 55 percent stakes, Singapore’s Yongnam Holdings holds 25 percent and Changi Airport International has 20 percent share.

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The agreement includes the design, construction, and management of the airport project through a public-private partnership but it has expired before certain issues have been coordinated, according to the announcement by Yongnam Holdings.

“We will continue to implement the project with other consortium if they can’t undertake the project,” said U Win Khant, Permanent Secretary for the Ministry of Transport and Communications.

While discussing the project, certain issues can affect to both countries. The discussions were made by the advices of the Japanese consulting company, he added.

Japan’s Government wants to continue the project because it is a project which can entends the Japan-Myanmar Friendship, said U Win Khant.

Vice President Henry Van Thio urged to invte the new tender for the Hantharwaddy International Airport Project if the consortium doesn’t want to proceed to implement the project.

The Hanthawaddy airport site covers about 9,000 acres near Bago, around 80 kilometres northeast of downtown Yangon.

Credit: 7Daydaily
Translated by: iMyanmarHouse.com