Myanmar is planning to build factories to produce coaches and locomotive sheds by using the international loans, Than Htay, Union Minister for Rail Transportation said.
The announcement was made at the September 29 ceremony to open the Yangon Railway Station’s circular express train.
The minister did not reveal the amount of loans from China and India. The Minister added that the loans had been taken at his predecessor’s time.
“We have been borrowing money from India and China since successive governments’ era till now. Likewise, our ministry of rail transport also took the loans from two countries. We have to buy the new coaches from those loans. We are now planning to produce coaches and locomotive sheds in Myanmar after building the factories,” he said.
The ministry of Rail Transportation announced a statement that in the past, the ministry had bought nearly 400 locomotive sheds from French, Germany, China as well as India and Japan.
The minster added that the public can access the commuting with reasonable prices because the ministry was operating most of the commuting trips at a loss.
Japan has agreed to provide assistance in rail transportation sectors of Myanmar at the end of 2012. Japan will give the loans with a low interest rate to Myanmar.
Source: ELEVEN Media