Myanmar re-launches airport tender
Reports say that move comes after winning South Korean bid hit problems funding the $1.5 billion project.
March 27, 2014
Myanmar is re-launching a tender to build a second international airport near its main city after the winning South Korean bid hit problems funding the $1.5 billion project.
News reports have said that the country has temporarily suspended the bid from a consortium led by South Korea’s state-run Incheon International Airport Corp (IIAC) to construct the Hanthawaddy International Airport on the outskirts of Yangon, according to Tin Naing Tun, director general of Myanmar’s civil aviation department.
The reports said that after discussions with the two leading bidders, the government had decided to act as a guarantor for loans up to half the cost of the project and would re-launch the tender, he said — without giving details of the issue with the South Korean bid.