Sumitomo Corporation, a Japanese company, is making preparations for beginning Yangon Railway Station Project at the end of 2019.
“Sino Great Wall Company went bankrupt in China and U.S trade war and it stands number four ranking. Therefore, the bankrupt Sino Great Wall Company is substituted with Sumitomo Corporation. The Japanese company is trying to begin the project at the end of this year,” said Ba Myint, Managing Director of Myanma Railways.
The Sumitomo Corporation is going to keep on upgrading of Yangon Railway Station Project as Sino Great Wall Company, the tender winning, went bankrupt in China.
Oxley Holdings won the tender for upgrading Yangon Railway Station Project in February in 2018. Oxley Holdings is the syndicate that Min Dhama Company in Myanmar and Sino Great Wall in China are working together.
Upon completion of the project, it will earn US$ 4 million a month. This amount is enough for the purchase of locomotive sheds necessary for Myanma Railways, said Ba Myint.
Myanma Railway won’t accept a change of project design if the Japanese company submits a proposal because Oxley Holdings Company submitted the project design to the MR in 2014, said Aung Thu Latt, the general manager of the MR.
The project has an area of about 63.5 acres and it will include hotels, offices and condos.
Translated and Edited by Win Htut
