The Singaporean group has recently successfully closed the bidding session by getting $1.4 billion contract to shape the second international airport in Yangon, a commercial Hub of Myanmar, and with this project, the state has been geared up to welcome a huge range of foreign passengers.
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The winning Singaporean group mainly consists of the construction group of Yongnam, supplementary companies of Singapore’s change airport and the Singapore based engineering. All these group members will construct a Hanthwaddy international airport over the outskirts of Yangon till 2019, confirmed by the civil aviation department of Myanmar.
The new airport will cover the area of 80 kilometers (50 miles) towards the Northeast of downtown Yangon. This Hanthawaddy International is anticipated to cater more than 12 million travelers in a single year - seems to have a major shift from 3.7 million passenger arrivals at Yangon International in the past year; to increase in numbers every year moreover.
Win Swe Tun said that, DG of Myanmar's civil aviation department, "We intend it to become the primary gateway for transit routes and also for cargo.” He further expressed that Hanthawaddy will help the aviation industry to enhance the capacity of total arrivals as the tourism is forecasted to grow in a continuous manner. He expects that the expansion plan will continue till it would have the capacity to cope with 30 million travelers potentially.
The Yangon International Airport was deemed to be the most prominent and up to date center of aviation before 60 years where flights were directly connected with the European destinations. However, this position went off due to crippling in foreign arrivals for the period of Military dictatorship.
In a bid for attaining the airport contract of worth $1.4 billion, around 49% of the building funds will be acquired from Japan's international development arm as a loan, which was considered after the failure of contract with South Korea's Incheon Airport due to financial reservations.
Win Swe Tun explained that termination of agreement occurred as a result of discrepancy when Myanmar government didn’t agree on the condition of amount it would reimburse in case of extinction the contract before accomplishment. Moreover, the government of Myanmar was also not confident in providing the proper electricity system and water supplies towards the construction site.
He did not provide details of the agreement with the Yongnam-CAPE-JGC Consortium, comprising of Singapore's Yongnam and Changi Airport Planners and Engineers as well as Japanese engineering firm JGC Corporation.