Myanmar Railways chooses winner for $2.5 billion Yangon rail project

Thursday, February 15, 2018

Myanmar Railways has selected a consortium of Myanmar, Singaporean and Chinese firms to undertake the massive Yangon Central Railway Station redevelopment that is one of the nation’s biggest property projects to date with an estimated US$2.5 billion price tag.

Singapore-listed Oxley Holdings had announced last night that its consortium that also comprises Myanmar’s Min Dhama and China’s Sino Great Wall that had been selected as the chosen bidder for the project.

It had beaten out a consortium comprising Yoma Strategic Holdings and Myanmar-listed First Myanmar Investment.

In an announcement Oxley mentioned that the award of contract would be subject to the completion of negotiations and legal arrangements. The company said that the project would represent a mixed development project comprising a new central transportation hub integrating rail and mass transit that is flanked by amenities of housing and commerce.

It would cover approximately 25.7 hectares.

Thereafter Oxley stated in the announcement that the decision to award the tender to the consortium was msde at a cabinet meeting on 30^th January.

Sino Great Wall is a construction firm that is based in Beijing and was listed on the Shenzhen stock exchange. Min Dhama is a subsidiary of Mottama Holdings that is a company owned by Myanmar-Chinese entrepreneur U Yang Ho.

The project would remold the northern fringe of the downtown area that brings high-rise towers to an area that is currently railway lines and single-storey homes.

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