Yoma Strategic Holdings, a Myanmar focused, Singapore-listed company primarily involved in real estate, said on Monday that a consortium it formed with two Japanese companies, Mitsubishi Corporation and JALUX Inc., has been selected by the authority of Myanmar as the successful tenderer to “upgrade and operate” the Mandalay International Airport.
The consortium is also invited to negotiate the contract with the Myanmar airport authorities. “Upon negotiation, finalization and agreement on the terms of the final contract, the consortium will be awarded the tender,” the Yoma said in a statement.
The Yoma, through its wholly-owned subsidiary, SPA Project Management Ltd. incorporated in Myanmar, will hold 5 percent stake in the joint venture company. The initial equity contribution by all the parties will be around 3.38 million U.S. dollars, it added.
The joint venture will design, construct, operate and maintain the facilities of the Mandalay International Airport, as well as some other businesses
Source: Mizzima News