Myanmar will receive 20 new modernized train carriages, bought under a loan from South Korea, in this year, according to Ministry of Transportation and Communications.
Myanma Railways (MR) signed a contract agreement to buy 100 new modernized train carriages from South Korea on December 5, 2018.
The ministry will use a US$45 million loan from Economic Development Cooperation Fund (EDCF) of the EXIM Bank to buy the train carriages.
The South Korean delegation led by Kim Hyun Mee, Minister of Land, Infrastructure and Transport met with Thant Sin Maung, Union Minister for Transportation and Communications on March 15.
Both sides discussed about the buying of modernized train carriages from South Korea, the modernization of Mandalay-Myitkyina railroad, the development of Twantay canal and the cooperation in aviation sector.
“We will buy 100 new train carriages from South Korea and 40 upper class train carriages are building in South Korea. 20 of them will arrive in Myanmar in this year and another 20 will be arrived next year. 60 ordinary class train carriages will be built in Myitnge train carriage factory,” said Aung Ye Tun, Assistant Secretary of the ministry.
Myanmar is cooperating not only with South Korea but also with Japan in Yangon circular railroad upgrading project and the upgrading process of Yangon-Mandalay railroad. Moreover Myanmar and Japan will cooperate in Hanthawaddy airport project, it announced.
A total of US$2.7 billion from Japan International Cooperation Agency (JICA) will be used to upgrade Yangon-Mandalay railroad under a five-year plan from 2018 to 2023.
