A consortium led by Incheon International Airport Corporation has been chosen as the preferred bidder to build a new airport in Burma's main city of Rangoon worth US$1.1 billion.
The corporation edged out 29 other consortia from 15 countries including China, France, Japan and Singapore.
The corporation said it hopes to sign the final agreement at the end of this year to build Hanthawaddy International Airport 60 km northeast of Rangoon, which will be able to process 1.2 million passengers a year. It expects to finish construction in 2018.
The consortium will invest W1.2 trillion to the project and try to make a profit by running it for up to 50 years (US$1=W1,112).
The other members of the consortium are Halla Engineering and Construction, Kumho Industrial, Lotte Engineering and Construction, and POSCO ICT.
Myanmar is the lingua franca. English is widely understood in cities like Yangon, Mandalay , Bagan, etc., Cantonese, Flukiness and Mandarin can also be used in the business circles here. ... More
