U Maung Aung, secretary of the Yangon Region Transport Authority, stated this week that FMIDecaux has commenced construction of new bus stops in Yangon. FMIDecaux is a joint venture between First Myanmar Investment (FMI), listed on the Yangon Stock Exchange, and JC Decaux Asia(S), an advertising company. The JV will build 350 bus stops in Yangon for a total investment of USD 13 million. FMI will hold a 40% stake while JCDecaux will hold the remaining 60%. Current bus shelters in Yangon will be replaced by new ones within 18 months. FMIDecaux has been granted the exclusive rights to advertise at the 500 bus stops for a period of 20 years by YCDC. U Maung Aung added, “The government will also be involved in relocating the new bus stops.”