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China has signed an agreement with Myanmar to invest and develop Kyaukphyu port in Rakhine State into a major container port as part of a package of agreements signed between the countries spanning infrastructure, power and trade during Chinese president Xi\u2019s visit to Myanmar last weekend.<\/p>\n
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Beijing aims to build the deep-sea port into a major container ports in Asia to serve as a gateway for Myanmar and ASEAN countries to India, Africa and the Middle East.<\/p>\n
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Myanmar invited bidders to develop the Kyaukpyu port area in 2014 and a consortium of six companies led by China\u2019s CITIC Group won the tender in 2015 and struck a deal with Myanmar last week after a lengthy negotiation on the development plan of the project.<\/p>\n
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According to CITIC, the first stage project involves the construction of two berths with a total investment of $1.3bn The construction of the port will soon commence after completing economic and social impact assessments.<\/p>\n
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Beijing believes the signing of cooperative agreements marks a significant step in translating the China-Myanmar Economic Corridor (CMEC) from a concept into a substantive planning and a important milestone for its Belt and Road Initiative.<\/p>\n
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China has signed an agreement with Myanmar to invest and develop Kyaukphyu port in Rakhine State into a major container port as part of a package of agreements signed between the countries spanning infrastructure, power and trade during Chinese president Xi\u2019s visit to Myanmar last weekend. Beijing aims to build the deep-sea port into a …<\/p>\n","protected":false},"author":1,"featured_media":6011,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[59],"tags":[95,1202,1390,1506,3084,3085],"class_list":["post-6010","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-port-news","tag-china","tag-deal","tag-development","tag-inks","tag-kyaukphyu","tag-myanmar"],"_links":{"self":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/posts\/6010","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/comments?post=6010"}],"version-history":[{"count":0,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/posts\/6010\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/media\/6011"}],"wp:attachment":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/media?parent=6010"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/categories?post=6010"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/tags?post=6010"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}