Apr 29, 2014

Myanmar outlines process of comprehensive development of Yangon railway station complex

Myanmar has outlined the process of comprehensive development of the largest Yangon Central Railways Station complex, saying that the investment in the project may reach 2 to 2.5 billion U.S. dollars, state media reported Sunday.

The government will implement the project in accordance with the international tender process and will choose the winners of the tender in the third week of November this year, Deputy Minister of Rail Transportation U Myint Thein was quoted as saying.

The project is expected to launch in February or March 2015, he added.

The Myanmar Railways under the ministry is working together with an international consulting firm to decide the form of carrying out the project giving priority to joint venture system.

Noting that the government has to pay around 40-45 billion Kyats (41 to 46 million U.S. dollars) annually in subsidy to the Myanmar Railways, he stressed the need to develop rail-concerned business to reduce the annual subsidy.

According to the railway authorities, the resettlement action plan and conceptual plan for the project have been drawn and the first phase of the project deals with resettlement of railways staff families living in the railways quarters and relocation of factories of the railways in the project area.

Under a plan of massive transformation of the Yangon Central Railway Station into one of the city's most sparkling new projects, the Myanmar railways authorities is inviting ideas and expression of interest from local and international investors to undertake design-and-build work for the comprehensive development of the railway station, calling for development of the colonial-era-left station on 25.3 hectares of railways land plot as a rail concerned business including high-rise buildings and hotels in accordance with international rules and regulations.

The authorities set May 6 as the deadline for submission of the expression of interest.

Source: Eleven Weekly Media