YANGON, Myanmar, Myanmar is preparing to invite tender from international companies early next year, to upgrade Yangon-Pyay railway, one of the most important sections in the country, which carries some 75 percent of all rail passengers, the official Global New Light of Myanmar, reported on Sunday (today).
The work of upgrading the railway will start in 2020, an official of the state-run Myanma Railways (MR), was quoted as saying.
The MR is currently conducting feasibility study, to use 200 million U.S. dollars, to upgrade the railway, and the project will be implemented within three years.
The MR will also receive loans from the Asian Development Bank (ADB), and the European Investment Bank (EIB), for the up-gradation project.
Noting that Myanmar’s investment in the railway system is just 1.5 percent of its national gross domestic product (GDP), as compared with other countries’, which are six percent, the official stressed the need to invest more in the sector, to assist economic development in the country.
In addition to Yangon-Pyay railway line, the MR is also giving priority to upgrading Yangon-Mandalay and Yangon-Mawlamyine railway lines, as well as, Yangon circular railway station.
Source: NAM News Network