Hanthawaddy airport project awaits loan from Japan

March 5, 2018

THE Ministry of Transport and Communications will submit a proposal to the respective authorities to apply for a soft loan from Japan to cover part of the Hanthawaddy airport project’s cost, said U Aung Ye Tun, assistant secretary at the Ministry of Transport and Communications.

A framework agreement, signed in January 2016, between Yongname Holdings and Myanmar’s Civil Aviation Department to build the airport, has expired and has not yet been renewed, as certain issues remain unresolved. Now, the authorities have planned to implement the new airport project on the basis of a public-private partnership. The Hanthawaddy airport project is one of the future projects of the Ministry of Transport and Communications.

The project will be implemented on more than 9,000 acres of land in Bago. It is located more than 50 miles away from Yangon. The estimated cost of the entire project is US$2.32 billion.

The Ministry of Transport and Communications will submit a proposal to the respective authorities to seek full funding for the project through the Japanese government’s official development assistance programme.

Myawady

Ref; The Global New Light of Myanmar