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China’s CITIC awarded tender for the Kyaukphyu SEZ



CITIC Consortium I & II won the tenders for the development of the Kyaukphy 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.

Source: Global New Light of Myanmar

Comment from Consult-Myanmar: This is a manifestation of China’s One Belt-One Road Strategy to expand its influence in Asia by investing in infrastructure projects. Moreover Kyaukphyu Deep Sea Port development is strategic to China as they will want to connect the deep sea port by road and high speed rail to China’s Yunnan Province and thus giving China’s undeveloped Western region quick access to the Indian Ocean. China has made similar investment in Malaysia by buying up 60% of the stake in a giant township in Kuala Lumpur owned by 1Malaysia Development Bhd (1MDB) where the future High Speed Rail terminal between Malaysia and Singapore will be situated.

To find out which are the 6 foreign companies in the CITIC consortium go to http://consult-myanmar.com/2016/01/01/six-company-foreign-consortium-wins-bid-for-implementing-kyaukphyu-sez-in-myanmar/

To see the original Kyaukphyu SEZ tender announcement go to http://consult-myanmar.com/2014/07/17/expressions-of-interest-invited-for-kyaukphyu-sez-development-closing-date-25-aug-2014/

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