A consortium of Singapore-based Yoma Strategic Holdings and two Japanese companies, Mitsubishi Corp and JALUX Inc, has been selected as the winner of a tender to “upgrade and operate” the Mandalay International Airport.
The consortium was also invited to negotiate the contract with the Myanmar airport authorities.
“Upon negotiation, finalisation and agreement on the terms of the final contract, the consortium will be awarded the tender,” Yoma said in a statement.
Yoma, through its Myanmar-based wholly-owned subsidiary SPA Project Management Ltd, will hold 5 percent stake in the joint venture company.
The initial equity contribution by all the parties will be around $3.38 million, it added.
The joint venture will design, construct, operate and maintain the facilities of the Mandalay International Airport, as well as some other businesses.
France-based Vinci Airports was selected as the backup company, the Ministry of Transport said.
Local company Pioneer Aerodrome Services won the tender to renovate Yangon International Airport, while the consortium of Singapore-based Yongnam Holdings Ltd, Changi Airport Planners and Engineers (CAPE) and JGC Corp was selected as the backup.
South Korea’s Incheon Airport consortium was selected to build Hanthawaddy International Airport, while Yongnam-CAPE-JGC was selected as the backup operator.