YANGON, July 14 (Xinhua) — The Yangon region government invited tenders for importing city buses for operating along main routes in Yangon as part of an upgraded public transport network, allowing any registered companies to submit tender by the end of this month, official media reported Tuesday.
A public bus service company to run the service in Yangon will be formed under the Bus Rapid Transit (BRT) system, said the Global New Light of Myanmar.
The government will retain a 40-percent share while private investors will hold 60 percent of the first public bus service company in Myanmar through public-private partnership.
The project will be carried out in three phases. Capital for the first phase is set at 25 billion kyats (20 million U.S. dollars) with 10 billion kyats from the government.
The BRT system aims to reduce traffic congestion by providing safe and comfortable public transport.
At present, 3,500 buses are operating on more than 360 bus lines in Yangon, transporting 2 million people a day.
The Yangon municipal authorities are also planning to implement inner and outer circular road round the city to reduce growing traffic jam.
Source: Global Post