PROJECT consortium companies are preparing to reach an eventual inking of the construction project of Hanthawaddy International Airport in December, it has been learned from the Department of Civil Aviation.
Hanthawaddy International Airport will become the largest and main international gateway into Myanmar once it is operational. It will be built on over 9,600 acres of land in Bago. This airport is located over 50 miles away from Yangon. The consortiums, led by JGC Corporation from Japan, Singapore based Changi Aiports International (CAI) and Yongnam Holdings Limited will build the airport. The whole projects will be implemented with Official Development Assistance (ODA) fund loans from the Japanese government. The consortiums plan to enter into the final stage of the agreement in December.
JGC Corporation and other companies conducted a feasibility study of the project in June, said an official from the department.
The first phase of the Hanthawaddy International Airport project will cost about US$1.5 billion. The construction of Hanthawaddy International Airport is slated to be completed in 2020. After the first phase of the project is completed, about 12 million travellers are expected to use the airport each year. The airport is expected to have a capacity of 50 million travelers per year after total completion.