FCC

China to build a port in Myanmar

2018-12-01

China and Myanmar is planning to develop a multi-billion dollar deep sea port in Kyaukpyu on the coast of Bay of Bengal. China and Myanmar will reportedly fund 70 per cent and 30 per cent of the investment for the project, respectively. The initial phase of the project is expected to include two berths, with a total investment of $1.3 bn. On completion, the port is expected to have an annual gross output of $3.2 bn. Besides, China is also building the Gwadar Port in Pakistan and has a 99-year lease of strategic Hambantota port in Sri Lanka.