A consortium of Yongnam, Changi Airport Planners and Engineers (CAPE) and JGC Corporation (JGC) has received an invitation from Myanmar's Department of Civil Aviation (DCA) to build and operate a new airport.
The Hanthawaddy International Airport (HIA) will be established near Yangon, Myanmar's old capital and commercial centre, and will have the capacity to handle 12 million passengers a year.
The order covers everything from construction to maintenance, and is expected to be valued at nearly $1bn.
Although a consortium led by South Korea's Incheon International Airport Corp was named as the preferred bidder to build HIA in August, the talks have reportedly broken down.
With the latest development, the DCA will enter into negotiation with the CAPE-JGC consortium for the design, construction, operation and maintenance of Hanthawaddy International Airport (HIA) and its facilities.
The deal will be on a public-private partnership basis for a 30-year concession period.
The CAPE-JGC consortium had previously submitted a proposal on 8 February 2013 to the DCA for the project, and on 10 August, and it was named as a back-up tenderer for HIA by the Tender Selection Committee of the Myanmar Ministry of Transport.