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Myanmar to grant foreign companies to build overpass, subway

(Xinhua)

10:35, February 03, 2012

YANGON, Feb. 2 (Xinhua) -- The Myanmar authorities will grant foreign companies to build overpass and subway in the country under the build-operate-transfer system, local media reported Thursday.

Full foreign investment in the proposed project is expected, a high ranking official with the Ministry of Rail Transportation was quoted by the Popular News as saying.

According to the report, four countries -- China, Russia, Japan and South Korea are seeking for investment in the projects which are outlined as overpass in Yangon, subway to link Yangon and Nay Pyi Taw, and bullet-type railway to link Yangon, Nay Pyi Taw and Mandalay.

Under a plan of Yangon municipal authorities, first ever overpasses are to be built in some traffic junctions in a move to ease traffic jam. They are at Hledan, Shwegondaing, Tarmwe and Bayintnaung traffic junctions where traffic congestion usually occurs due to large traffic volume almost all day round.

Moreover, Myanmar is drafting a concept plan to upgrade the backward former capital city of Yangon to a city of having modern urban characteristics.

A total of 25 papers related to the 30-year Yangon Concept Plan (Vision 2040) were discussed in a workshop held in September last year involving the participation of the government's housing authorities, municipal authorities, port authorities, Myanmar Engineering Society, Myanmar Architect Society, Ministry of Science and Technology consultants scholars, Yangon Institute of Economics, the environment conservation authorities and the Yangon Electricity Supply Board.

The 30-year plan includes upgrading Yangon in such various sectors as transport, communication, electricity supply and water supply.

The fund for the project will be sought from local private enterprises and banks or through foreign investment.

At present, Yangon Port extension project is underway to increase foreign vessel berthing capacity and freight handling capacity.

With a population of over 6 million and area of 795 square kilometers, the Yangon city is demarcated by 45 townships, of which 33 represent the municipal area.

According to the road transport administration, the number of motor vehicles of various types operating in Myanmar reached 2.34 million as of October 2011, up from 2.29 million in the previous year correspondingly.

Of the total, 1.918 million are motor cycles, while 283,460 are passenger cars, 65,373 trucks and 21,211 buses.

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