October 20, 2017

Pyidaungsu Hluttaw approves 5 million euro loan from Germany for locomotive factory

Pyidaungsu Hluttaw passed the motion on borrowing 5 million euros from German KfW Development Bank for a Diesel Locomotive Shed in Ywa Htaung for Myanma Railways.
Following a debate, the issue was put to a vote and passed 506 to 6.
“It is required to give training to employees of Ywa Htaung locomotive shed because the technology used for current engines of the Myanma Railways is advanced,” said U Kyaw Myo, Deputy Minister for Transport and Communications in his clarification at the parliament.
The loan will ultimately result in more reliable trains and service, improved safety and advanced training for Myanmar engine repairmen, the Union minister added.
The Ywa Htaung Locomotive Shed was established in 1975 and Railways Technical Training Centre (Ywa Htaung) was opened in 1981 with the assistance of the German Organization for Technical Cooperation-GTZ.
Currently, a 2 million euro grant assistance from Germany is under discussion to inject into upgrading of the Railways Technical Training Centre (Ywa Htaung) as slated 0.25 million euro, which is a portion of the 5 million euro loan, is not enough to carry out the work, according to the Myanma Railways.
Under the Industrial Attachment Program, students from the technical universities receives on-job training the centre every year.
The Diesel Locomotive Shed (Ywa Htaung) repairs and maintains both diesel hydraulic and diesel electronic engines of the Myanma Railways while the Locomotive Shed (Insein) maintains diesel electronic engines.
“Experts would be hired in order to use the loan in accordance with the guidelines and  in order to minimise loss and wastages,” said the deputy minister.
Deputy Minister for Planning and Finance U Maung Maung Win also participated in the debate before the issue was put to the vote.
The terms and conditions of the deal are for a 40-year loan with a 30-year payback period with an interest rate of 0.75 per year.—Myanmar News Agency

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