Myanmar Parliament Approves Loan from China for Purchase of Chinese Trains

Myanmar, Slider 04 Dec 2018
Myanmar Parliament Approves Loan from China for Purchase of Chinese Trains

The Ministry of Transport and Communications has submitted the matter of seeking China loans without interest to buy railway carriages to Union Parliament for approval.

Union Minister Thant Sin Maung submitted the matter seeking a loan of 80 million Yuan during a meeting of Union Parliament held in Nay Pyi Taw on November 12.

“By implementing this project (for buying 28 railway coaches), it will contribute to the running of trains on Yangon-Mandalay railroad. Every day, a train carries over 1,000 passengers along the route. For a coach, over K3 million is earned. The additional 28 carriages will ensure the convenience of railway passengers and their safety. As a result, Myanma Railways will improve its image and earn more income,” said the minister.

Myanma Railways Strategy-2018 compiled in cooperation with Asian Development Bank has reviewed that Myanmar should buy 60 locomotives, 500 passenger carriages and 800 cargo carriages before 2027.

After series of coordination with the Chinese commercial attaché’s office, Myanma Railways has planned to buy 28 passenger carriages—14 for upper class and 14 for ordinary class—in accord with the MR specifications.

The loan period is 20 years.

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