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China keen to take majority stake in Burmese port

China keen to take majority stake in Burmese port

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China is looking to invest in another strategically important port in Myanmar. As part of its sprawling intercontinental infrastructure buildup, the One Belt, One Road initiative, Beijing is keen to pour millions into the deepsea port of Kyauk Pyu on the Bay of Bengal and is in discussions with the Southeast Asian nation to take an 85% stake in the facility.

A group led by state backed CITIC Group is leading the negotiations on the Chinese side which have been ongoing for many months. China Merchants is one of the parties within the consortium.

The port is located where an oil and gas pipeline starts and heads into southwest China, providing an alternative to tankers transiting the Malacca Strait to get to the People’s Republic.

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Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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1 Comment

  1. Andre
    May 8, 2017 at 10:49 pm

    Wishful thinking as there are a number of grassroots issues to be resolved