December 15, 2016

Breaking News

SEZ MOVES TO NEXT STATE

CITIC wins lion’s share of Kyaukphyu Special Economic Zone development

Workers at a special economic zone construction site in Rakhine state. Photo: Reuters
Workers at a special economic zone construction site in Rakhine state. Photo: Reuters

CITIC Consortium-I and II won the tenders for the development of the Kyaukphyu Special Economic Zone, according to the announcement of the Kyaukphyu SEZ Bid Evaluation and Awarding Committee yesterday.
The statement of the committee said CITIC Consortium-I won the tender for the development of the deep-sea port component of the SEZ, while CITIC Consortium-II won the development of the industrial zone.
Meanwhile, a tender for the development of a high-class housing project was rejected as bids for the project did not met with the requirements, said the statement.
The committee said the winners were selected from among three finalist companies for the deep-sea port project, three for the industrial zone project and one for the high-class housing project – a total of 10 bidders.
The announcement came a day after the Pyithu Hluttaw approved the establishment of the SEZ on more than 4,280 acres of land.
MPs supported the Kyaukphyu SEZ, saying that it would be very beneficial for the growth of the country’s economy, particularly that of Rakhine State.
They also stressed need for transparency as the project is huge one, stressing importance of the relaxation of agreements in the interest of the people and the country.
Speaker Thura U Shwe Mann acknowledged the majority of MPs’ nod to the project, urging the next government to ensure transparency in implementing the remaining tasks of the project.
President U Thein Sein, who serves as the chairman of the Myanmar Special Economic Zone Central Working Body, previously called on the body to speed up efforts to announce the results of the tender for the development of the Kyaukphyu Special Economic Zone during the term of the current government.

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