YANGON, Feb. 20 (Xinhua) -- The Central Transport Development Consortium (CTDC) has been opted as the preferred bidder to redevelop the prime site around the Yangon Central Railway Station in the heart of the former capital city, according to a release of the CTDC Tuesday.

The consortium is made up of local firm Min Dhama Co Ltd, Singapore-based Oxley Holdings and China-based Sino Great Wall Company sharing 40 percent, 30 percent and 30 percent respectively.

With 2.5 billion U.S. dollars' investment on the 25.7-hectare railway land, the Yangon central railway station redevelopment project will signify Myanmar's prospective largest joint venture investment project during the incumbent government.

The project, which will last for eight years, will create over 100,000 job opportunities.

With a gross floor area of 1.09 million square meters, the mix-use development will comprise six different zones to include a world-class commercial district, towers, a business hotel and serviced apartments, a communal green park and a railway museum.

Under a plan of massive transformation of the railway station into one of the city's most sparkling new projects, the Myanmar authorities invited local and international investors in 2014 to undertake design-and-build work for the comprehensive development of the over 130-year-old railway station in accordance with international rules and regulations.