China and Myanmar move ahead with Kyaukpyu port development

China and Myanmar move ahead with Kyaukpyu port development

China and Myanmar finally signed an agreement on Thursday to proceed with a slimmed down port project at Kyaukpyu on the Bay of Bengal. China’s Citic Group will develop the port with Beijing funding 70% of the development as Myanmar finds itself at the centre of a tussle for infrastructure projects between giant neighbours India and China.

The initial phase of the project will include two container berths with a total investment of $1.3bn, according to the agreement.

The Chinese consortium first won the bid to construct the port in December 2015 with an estimated investment of $7bn. Differences between the two sides however saw the project put on hold for a number of years.

Last month India and Myanmar agreed to move ahead with the development of Sittwe port, also on the Bay of Bengal.

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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