Saturday, July 23, 2011
The main commuter rail service providing cheap transport in Myanmar’s biggest city is to be privatized, according to a notice published Thursday. The advertisement in the state-run New Light of Myanmar newspaper invited parties interested in operating the Yangon-based service to contact the Ministry of Railway Transportation. The government liberalized its once-socialist economy, with privatization accelerating in recent years. State-owned enterprises, buildings, fuel stations and wharves were auctioned off last year. The railway ministry operates the circular train service on a loop connecting downtown Yangon with satellite towns and suburban areas. Tickets cost 20 kyat (about 3 cents) per trip, with 21 trains running 200 loops daily to serve about 100,000 commuters.
Source: AP
Posted in: investment,reports
