A consortium led by mainboard-listed construction group Yongnam Holdings is back in the running for a major Myanmar airport contract.

It has been invited by the Myanmar government to re-enter negotiations to design, build and run a new international airport in the country, Yongnam said on Tuesday.

The airport is near Yangon, the former capital of Myanmar, and was estimated to be worth around US$1.1 billion.

The consortium includes Singapore-based Changi Airport Planners and Engineers as well as JGC Corporation which is based in Japan.

It was named as a back-up bidder for the Hanthawaddy International Airport project in August last year, after the contract was awarded to a group of South Korean firms led by Incheon International Airport Corporation.

However, discussions between the South Koreans and the Myanmar government have since broken down, according to a Reuters report on Tuesday which cited an anonymous source.

South Korea's transport ministry had said in August last year that Incheon aimed to sign a contract by the end of 2013, open the facility in 2018 and operate it for 50 years.

Yongnam said that the consortium's negotiation with the Myanmar government would be "on the basis of a public-private partnership agreement for a 30-year concession period".

It said that while it "hopes to have a successful conclusion to the negotiation" with Myanmar's department of civil aviation, "this invitation ... may or may not conclude successfully".