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China's CITIC signs port infrastructure contracts in Myanmar economic zone
CHINESE consortia led by China International Trust and Investment Corporation (CITIC) has won bids for two Burmese infrastructure projects in a Myanmar special economic zone in western Rakhine State, reports Reuters.
One consortium won a tender to build a deep sea port on the Bay of Bengal, while another consortium won a contract to develop an industrial area, announced managers of the economic zone.
Both projects are part of Myanmar's plan to boost the region's economy with the Kyaukphyu Special Economic Zone, and they add to China's portfolio in one of Myanmar's poorest states.
China already has oil and gas pipelines from Kyaukphyu, across Myanmar to China's Yunnan province, bypassing a potential shipping chokepoint of the Malacca Strait.
The CITIC-led consortia includes China Harbour Engineering Company Ltd, China Merchants Holdings, TEDA Investment Holding and Yunnan Construction Engineering Group. The only non-Chinese company involved is Thailand's Charoen Pokphand Group, reports Xinhua.
China enjoyed good relations with Myanmar under the junta that ruled for 49 years until 2011, when power was ceded to a semi-civilian government headed by President Thein Sein.
The president re-engaged with western nations, including the United States and pushed back on some Chinese initiatives, most notably suspending a dam project in 2011. Despite that, China remains Myanmar's largest trade partner.
One consortium won a tender to build a deep sea port on the Bay of Bengal, while another consortium won a contract to develop an industrial area, announced managers of the economic zone.
Both projects are part of Myanmar's plan to boost the region's economy with the Kyaukphyu Special Economic Zone, and they add to China's portfolio in one of Myanmar's poorest states.
China already has oil and gas pipelines from Kyaukphyu, across Myanmar to China's Yunnan province, bypassing a potential shipping chokepoint of the Malacca Strait.
The CITIC-led consortia includes China Harbour Engineering Company Ltd, China Merchants Holdings, TEDA Investment Holding and Yunnan Construction Engineering Group. The only non-Chinese company involved is Thailand's Charoen Pokphand Group, reports Xinhua.
China enjoyed good relations with Myanmar under the junta that ruled for 49 years until 2011, when power was ceded to a semi-civilian government headed by President Thein Sein.
The president re-engaged with western nations, including the United States and pushed back on some Chinese initiatives, most notably suspending a dam project in 2011. Despite that, China remains Myanmar's largest trade partner.
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