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South Korean builder GS Engineering & Construction has won a construction deal in Yangon, the biggest city and former capital of Myanmar, the firm said Wednesday.
The project involves building the Korea-Myanmar Friendship Bridge, which is financed by the Economic Development Cooperation Fund. The fund was set up to promote economic cooperation between South Korea and developing countries.
According to GS E&C, it received a letter of acceptance from Myanmar’s Construction Ministry last week for the project worth 174 billion won ($154.8 million). A 4.3-kilometer-long bridge will be built to connect the central business district in Yangon with the Dala area, the company said.
Construction will begin in the first half of next year and is to be completed by 2022.
After the bridge is completed, it will take around 30 minutes for residents of the Dala area to reach the CBD area, compared to the current two hours.
The project involves building the Korea-Myanmar Friendship Bridge, which is financed by the Economic Development Cooperation Fund. The fund was set up to promote economic cooperation between South Korea and developing countries.
According to GS E&C, it received a letter of acceptance from Myanmar’s Construction Ministry last week for the project worth 174 billion won ($154.8 million). A 4.3-kilometer-long bridge will be built to connect the central business district in Yangon with the Dala area, the company said.
Construction will begin in the first half of next year and is to be completed by 2022.
After the bridge is completed, it will take around 30 minutes for residents of the Dala area to reach the CBD area, compared to the current two hours.
“Based on GS E&C’s experienced techniques and execution skills, we will continue to use all capacity to contribute to Myanmar’s infrastructure innovation and economic development,” said Lee Sang-ki, vice president in charge of GS E&C’s infrastructure business division.
By Kim Da-sol (ddd@heraldcorp.com)
