Yongnam consortium invited to negotiate for Hanthawaddy International Airport concession

Covers everything from costruction to maintenance.

The Board of Yongnam Holdings Limited (Yongnam) announced that the consortium comprising Yongnam, Changi Airport Planners and Engineers (CAPE) and JGC Corporation (JGC) has received an invitation from the Department of Civil Aviation (DCA), Myanmar to enter into negotiation on the design, construction, operation and maintenance of Hanthawaddy International Airport (HIA) and its facilities on the basis of a public-private partnership agreement for a 30-year concession period.

The Consortium had previously submitted a proposal on 8 February 2013 to the DCA for the aforementioned project. On 10 August 2013, the Consortium was named as a back-up tenderer for HIA by the Tender Selection Committee of the Myanmar Ministry of Transport.

Yongnam said it will provide updates as and when there are further developments to the negotiation with the Myanmar DCA.

The Board cautions that while the Yongnam hopes to have a successful conclusion to the negotiation with the Myanmar DCA, this invitation to negotiate with the Myanmar DCA may or may not conclude successfully. Hence, shareholders should exercise caution when dealing in Yongnam shares.