The detail of the real estate related news

Difficulty to use State Budget for building Sky Rail Way


Myanmar real estate news “The first time to be built Sky railway project in Myanmar which the cost of amount were more and it is difficult to use the national budget because of that Myanmar is seeking an investment company,” Construction Minister U Han Zaw said on June 4.

“Seeking for Investors to construct elevated highway as the first step crossing from Tuwunna to till Yangon International Airport, after finished national Hlawtaw Assembly on that day,” Minister told to Myanmar times.

Actually Sky railway project has to be led by Yangon City Affairs but Department of Construction Ministry had been helped in another way.

“Thai and the others also likewise. Foreign company were invested if the high way to airport is construct. IFC (International Finance Corporation) who experienced of those was studying it,” said he.

The project will call expressed project interest in the application (EOI) with Public Private Partnership (PPP) system and one of the company will be selected among those company to advise the project by IFC who signed the contract with government.

Sky railway project was built with the intention to address the complexity of Yangon traffic.