November 17, 2014 1:59 am JST

Mitsubishi to operate Myanmar's Mandalay Airport

MOTOKAZU MATSUI, Nikkei staff writer

YANGON -- Mitsubishi Corp. and smaller Japanese trading house Jalux signed a contract Sunday with Myanmar's civil aviation department to acquire the right to operate Mandalay International Airport.

     The 30-year deal will mark the first time a Japanese company will take part in the privatization of Myanmar's public infrastructure since the country's democratization process began in spring 2011.

     A company set up by Mitsubishi, Jalux and Myanmar's Yoma Development Group will handle management and repairs of the airport's terminal building, runways and other facilities.

     Jalux, in which Japan Airlines holds a stake, has a track record of operating an airport in Laos. Mitsubishi is engaged in real estate development in Myanmar with major local player Yoma.

     About 750,000 passengers used Mandalay Airport in 2013, and the figure is expected to increase to around 900,000 this year.

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