Fuel Importers Submit Proposal for Deep-Sea Port in Yangon

Representatives of the oil and gas in­dustry have sub­mitted a business propos­al to the government to a build a deep-sea port near Yangon.

“We are studying the potential logistics and feasibility of a deep-sea port project 20 miles from Yangon to reduce transportation costs for maritime trade and fuel imports,” Dr Win Myint, Secretary of Myanmar Fuel Oil Importers and Distributors Association, told Myanmar Business Today.

Currently, industrial ports on the Yangon River can only accommodate vessels to a depth of 9 meters and a weight of 20,000 tons.

“We need to be able to accommodate loading capacities in excess of35,000 tons. A deep-sea port will open Yangon to more efficient and less costly methods of import­ing fuel,” Dr. Win Myint said.

The proposal submit­ted by the association estimates the cost of the project to be $500 mil­lion, which includes a fuel pipeline to Yangon, bridges between the city and port, and other trans­portation infrastructure.

Myanmar consumes 600,000 tons of fuel each month and to transport it pays an average cost of $2 per barrel. The proposal estimates that a deep-sea port nearer to the city will shave $12 million off monthly transportation costs.

“In collaboration with the Myanmar Port Au­thority, we are in the pro­cess of choosing the most appropriate location with the best depth and access to infrastructure,” Dr. Win Myint also added.

At a meeting of the My­anmar Chamber of Com­merce, Dr. Tun Naing urged the port project to conduct a thorough envi­ronmental impact assess­ment.

The proposal states that the deep-sea port will be not only controlled by stakeholders, but will also welcome investment from the private sector, Dr. Win Myint added.

Source: Myanmar Business Today

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