Yangon Central Railway Comprehensive Development Project to Continue

The Union government will select a winner for the tender of the Yangon Central Railway Comprehensive Development Project by next month, U Htun Aung Thin, general manager of Myanma Railways (lower Myanmar).

Under the project, Yangon Railway Station is to be redesigned and rebuilt as an international standard railway station equipped with modern business outlets and a systematic transportation network.

The 63-acre project area is located east of Sule Pagoda, near  Bogyoke Aung San Road and Bo Minyaung Road, Mingalartaung Nyunt township. The estimated cost for the project is $ 2.5 billion, according to Myanma Railways.

U Htun Aung Thin added that rumours of the project being suspended were not true, and that the government wants work to take place as planned. “We have no plan to suspend the project and the processes are ongoing,” he added.

“The government is performing the necessary procedures in selecting the winner for the tender,” he said. “Within next month, we will be ready to conduct a preferred tender,” said U Htun Aung Thin.

Under a preferred tender, the winning company is selected based on criteria such as price and quality. After the preferred tender, the company will sign a contract to undertake construction work.

The tender for the Yangon Central Railway Comprehensive Development Project was first launched by Myanma Railways in 2014, with a total of 28 local and international companies applying to design, build and operate Yangon Railway Station.

However, the companies were not able to meet the necessary requirements and Myanma Railways called for a second tender in 2015.

In 2016, Myanma Railways announced that 15 companies would be able to proceed with the tender process. These included prestigious construction companies like Singapore-listed Yoma Strategic Holdings and Yangon Stock Exchange-listed First Myanmar Investment Company (FMIC), Capital Diamond Star Group, High Tech Concrete Technology Company under the Shwe Taung Group and M&A -Iconic Company under Myint & Associates.

‘’In the end, two local companies were left – FMIC and Mindama Construction Company. Only these two companies were able to provide the required $4 million guarantee,” said U Htun Aung Thin.

 

Source: The Myanmar Times

 

To see the original article click link here

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.

.

To evaluate the various segments of the market that you could possibly enter base on your competencies you can do a Custom Market Entry Strategy Research. You can see a sample report at page “Actual Sample of Client Report”. Click here to go to page.

.

Do you know that IE Singapore is giving ≤ SGD 20, 000 support under the MRA Grant and > SGD 20,000 under the GCP Grant for Singapore companies to venture into Myanmar? To learn more click here.

.