The Myanmar government has invited a consortium, composed of two Singapore-based firms and one Japanese conglomerate, to re-enter negotiations to construct and operate a new international airport near Yangon.
Comprising Japan's JGC Corp as well as Singapore's Yongnam Holdings and Changi Airport Group, the consortium was selected in August 2013 as the back-up contractor, after Myanmar's transport ministry named a South Korean consortium as the preferred bidder for the US$1 billion (S$1.27 billion) project, media reports revealed.
However, negotiations with the consortium led by South Korea's Incheon International Airport Corp have since deteriorated because its proposed airport can only handle 10 million passengers per year compared to the government's intended target of 12 million passengers.
"It doesn't mean the deal with Incheon is off now. It's just been temporarily suspended and the ball is in their court," said a government official who wished to remain anonymous.
In a statement, Yongnam said they had been asked by Myanmar's Department of Civil Aviation to re-enter negotiations for a 30-year public-private partnership (PPP) to build and operate the Hanthawaddy International Airport.
Image: Artist's Impression of Hanthawaddy International Airport (Source: Incheon International Airport Corp)
Nikki De Guzman, Junior Journalist at PropertyGuru, edited this story. To contact her about this or other stories email email@example.com
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