Japanese companies to resume Myanma

[OKKAR66127@xxxxxxx]

The Nikkei Weekly
(30-3-98), page 27

Japanese companies to resume Myanmar Airport Project

Marubeni Corp. and Taisei Corp. will resume the project to expand
Yangon Airport, officials at the two companies said. The resumption
follows the Japanese government's decision to partially lift a ban on
yen loans to Myanmar.

The Foreign Ministry has told Myanmar it will provide an initial Yen
2.5 billion ($19.4 million) in loans for the project, slated for
completion in about two years.

The two companies confirmed they will will resume work during recent
talks with Myanmar's aviation authorities.

They will soon start work to improve the runway and lighting
facilities at the airport.

They received the original order in 1987, when Japan had pledged to
extend up to Yen27.1 billion in loans to the country.

But the loans were suspended after the military coup in 1988. By then,
Japan had already lent Yen 4 billion for the project.

Japanese companies regard the resumption of lending as a chance to
cash in on Myanmar's growth potential. But the military regime still
faces strong criticism from the U.S. and Europe over human-rights
abuses.

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