【Korea】 Incheon Named Preferred Bidder on Myanmar’s New Global Air Hub

[Bloomberg] Aug. 11 Korean Japanese
Incheon International Airport Corp. leads a group picked as the preferred bidder on Myanmar’s new $1.1 billion air hub, the latest in a series of global deals as the Southeast Asian nation opens itself after decades of isolation.

Incheon is in talks with Myanmar’s Department of Civil Aviation on details, aiming to sign a contract this year, open the facility in 2018 and operate it for 50 years, South Korea’s Transport Ministry said today in a statement. Hanthawaddy International Airport will be capable of handling about 12 million passengers per year, the ministry said.

Incheon Airport’s consortium, which includes South Korean industrial powers Halla Engineering & Construction Corp.(014790), Kumho Industrial Co.(002990), Lotte Engineering & Construction Co. and POSCO ICT Co.(022100), competed for the airport deal against three rival groups led by Singapore’s Yongnam Holdings Ltd., Japan’s Taisei Corp. (1801) and France’s Vinci SA, according to the South Korean ministry.

Separately, a group including Mitsubishi Corp. (8058) and Japan Airlines Co. won priority negotiation rights to manage the international airport in the city of Mandalay, Kyodo news reported yesterday, citing people familiar with the matter.
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