Mitsubishi Corp. has signed two contracts with Myanmar's state-run railway, Myanma Railways, to deliver new rolling stock, the Japanese trading house said Tuesday according to a Nikkei report.

The total cost of the two projects is approximately 69 billion yen ($663.2 million), which will be covered by an international yen loan agreement between the governments of Japan and Myanmar. The projects are part of the Japanese government's railway infrastructure export drive.

Mitsubishi will deliver 66 cars for the Yangon Circular Railway, which runs through central Yangon and 180 cars for the Yangon-Mandalay Railway, which connects Yangon, Naypyitaw and Mandalay.