FMIDecaux will invest US $ 13 million in bus stop building

Phyo Wai

FMIDecaux company jointly organized by JCDecaux S.A and First Myanmar Investment Compan(FMI) will invest US $ 13 million in building bus stops and signboards in Yangon.

JCDecaux S.A  is the number one outdoor advertising company worldwide, and First Myanmar Investment Co., Ltd is Myanmar’s first listed company  with the Yangon City Development Committee (YCDC) for advertising street furniture in the city of Yangon.

The agreement signing ceremony which is called Street Furniture Yangon Signing Ceremony will upgrade 500 bus stops in Yangon to international standards. 60 percent of FMIDecaux capital is owned by JCDecaux, and 40% by FMI, and FMIDecaux has been selected by Yangon City Development Committee, as the exclusive operator for advertising at bus shelters and on City Information Panels.

‘‘We want to upgrade the bus stops into international standard. Therefore, we called for tender to upgrade the bus stops. The contract winner will upgrade 500 bus stops and the rest will be upgraded by YCDC,’’ said Yangon Chief Minister   Phyo Min Thein.

He added that YCDC in the future will be implemented in corporation or company systems.

 There are currently over 2,000 bus stops in Yangon region, so the project’s 500 bus stops will not be sufficient for the whole city, according to Phyo Min Thein. He added that the remaining 1,500 bus stops will be built and replaced by the YCDC.