South Korean consortium wins contract to build Myanmar airport
YANGON (AFP) - Myanmar has picked South Korea's state-run airport operator to build a new international hub near it's main city, as the once-isolated nation sees booming tourist and business visitor numbers.
A consortium led by the Incheon International Airport Corp (IIAC) was chosen as the preferred bidder to construct the Hanthawaddy International Airport as a second hub for the country's commercial centre Yangon, Myanmar's Department of Civil Aviation said.
The final contract for the US$1.1 billion (S$1.4 billion) project will be signed at the end of this year, Seoul's transport ministry said in a statement on Sunday confirming the successful bid.
Myanmar, which emerged from outright military rule in 2011, has seen a surge in tourist and business arrivals as reforms in the former pariah state lure holiday makers and potential investors.