YANGON, May 17 (Xinhua) -- The state-run Myanmar Railways (MR) will sign deal with tender winners for a Yangon railway development project in two months to start the project, the official Global New Light of Myanmar reported Thursday.
A three-company consortium consisting of a local firm Min Dhama Co. Ltd, Singapore-based Oxley Holdings Limited and China-based Sino Great Wall Company were opted in February as the tender winners to re-develop the prime site around the Yangon Central Railway Station.
MR invited tenders for the Yangon Central Railway Comprehensive Development project worth 2.5 billion U.S. dollars for the second time in 2015 after an initial attempt in 2014, which was cancelled for the lack of suitable applications.
The project will signify the country's prospective largest joint venture investment project during the incumbent government and it is estimated to last for eight years, creating over 100,000 job opportunities.
Under a plan of massive transformation of the railway station into one of the city's most sparkling new projects, the Myanmar authorities were inviting ideas and expression of interest from local and international investors to undertake design-and-build work for the comprehensive development of the 130-year-old railway station in accordance with international rules and regulations.