Chinese Firm Proposes $1.5-bn Elevated Railway for Yangon
Chinese Firm Proposes $1.5-bn Elevated Railway for Yangon
The Irrawaddy, 16 Jan 2019
URL: https://www.irrawaddy.com/news/burma/chinese-firm-proposes-1-5-bn-elevated-railway-yangon.html
YANGON—China is looking to make further inroads into Myanmar’s economy by funding a US$1.5-billion elevated railway project in the country’s commercial capital, Yangon.
China Railway Eryuan Engineering Group Co., Ltd (CREEC) made a presentation about its planned project to develop an elevated railway to lawmakers in a media room in the regional parliament on Monday.
Under the proposed project, CREEC will build the 37.9 kilometre-long elevated railroad with 24 stations in two to three years. The company said it will fund the project, which is estimated to cost $1.5 billion, but asked for a 50-year contract to operate the service, according to MPs who were at the presentation meeting.
Regional lawmaker U Than Naing Oo from Panbedan Township told The Irrawaddy that lawmakers raised the issue of the region’s ongoing problems with land seizures and confiscations, and disagreed with the company’s plan to develop an alternative route instead of connecting with the city’s existing circular railway.
The Ministry of Transport and Communications is upgrading Yangon’s circular railway line with the help of Japan International Cooperation Agency. The upgrade includes modernizing the line’s stations, tracks and trains. Management expects to finish the project in 2023. Some 73,000 commuters ride the line daily.
According to lawmaker U Than Naing Oo, Naw Pan Thinzar Myo said the regional government basically agreed with the proposed project, as the government wouldn’t need to fund it or obtain loans. However, for final approval, the minister said the plan would be submitted to the ruling National League for Democracy’s economic committee and to the Union Government for review, the lawmaker added.
China Railway Eryuan Engineering Group Co., Ltd (CREEC) made a presentation about its planned project to develop an elevated railway to lawmakers in a media room in the regional parliament on Monday.
Under the proposed project, CREEC will build the 37.9 kilometre-long elevated railroad with 24 stations in two to three years. The company said it will fund the project, which is estimated to cost $1.5 billion, but asked for a 50-year contract to operate the service, according to MPs who were at the presentation meeting.
Regional lawmaker U Than Naing Oo from Panbedan Township told The Irrawaddy that lawmakers raised the issue of the region’s ongoing problems with land seizures and confiscations, and disagreed with the company’s plan to develop an alternative route instead of connecting with the city’s existing circular railway.
The Ministry of Transport and Communications is upgrading Yangon’s circular railway line with the help of Japan International Cooperation Agency. The upgrade includes modernizing the line’s stations, tracks and trains. Management expects to finish the project in 2023. Some 73,000 commuters ride the line daily.
According to lawmaker U Than Naing Oo, Naw Pan Thinzar Myo said the regional government basically agreed with the proposed project, as the government wouldn’t need to fund it or obtain loans. However, for final approval, the minister said the plan would be submitted to the ruling National League for Democracy’s economic committee and to the Union Government for review, the lawmaker added.