ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronEye IconIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailMenu BurgerPositive ArrowIcon PrintIcon SearchSite TitleTitle ChevronIcon Twitter
Economy

Military party awards major projects to China

YANGON -- After a delay of nearly a year, Myanmar's outgoing military-controlled government has awarded Citic Group, China's largest state conglomerate, contracts to develop Kyaukphyu Special Economic Zone (SEZ) and a nearby deep sea port in Rakhine State close to Myanmar's border with India.

     The impoverished and remote area has been blighted by serious sectarian strife in recent years. Parliament approved the development of Kyaukphyu SEZ at the end of December despite criticism of the tender process. The ruling military-linked Union Solidarity and Development Party is in its final weeks after being defeated in a general election in November by the National League for Democracy (NLD) led by Aung San Suu Kyi.

     The Citic consortium comprises China Harbor Engineering Company, China Merchants Holding, TEDA Investment Holding, Yunnan Construction Engineering Group and Charoen Pokphand Group, a Thai conglomerate.

     The first phase of the 1,600-hectare industrial park will get under way in February. It will be home to technology and capital-intensive industries as well as more labor- intensive ones, including textiles and garments, according to the Kyaukphyu SEZ bidding and awarding committee.

     The deep sea port is to be constructed in four phases over 20 years, and will have road and bridge links to the industrial park.

     President Thein Sein received a delegation led by Citic Chairman Chang Zheng Min on Dec.24 in Naypyitaw, the national capital, a few days before the successful tender was announced. Civil society groups in Rakhine State had appealed for parliamentarians to delay a decision until Suu Kyi's NLD took over.

     Min Khin, a member of the NLD's economic team, told the Nikkei Asian Review that his party had been visited by a Citic delegation and China's ambassador ahead of the decision. The visitors were asked for more information and told that nothing should be "decided in haste".

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

You have {{numberArticlesLeft}} free article{{numberArticlesLeft-plural}} left this monthThis is your last free article this month

Stay ahead with our exclusives on Asia;
the most dynamic market in the world.

Stay ahead with our exclusives on Asia

Get trusted insights from experts within Asia itself.

Get trusted insights from experts
within Asia itself.

Get Unlimited access

You have {{numberArticlesLeft}} free article{{numberArticlesLeft-plural}} left this month

This is your last free article this month

Stay ahead with our exclusives on Asia; the most
dynamic market in the world
.

Get trusted insights from experts
within Asia itself.

Try 3 months for $9

Offer ends May 26th

Your trial period has expired

You need a subscription to...

  • Read all stories with unlimited access
  • Use our mobile and tablet apps
See all offers and subscribe

Your full access to the Nikkei Asian Review has expired

You need a subscription to:

  • Read all stories with unlimited access
  • Use our mobile and tablet apps
See all offers
NAR on print phone, device, and tablet media