Myanmar authorities announced Wednesday that a consortium of six foreign group companies, led by China's CITIC, has won the bid for implementing two projects of the country's newly planned special economic zone (SEZ) in Kyaukphyu, western Rakhine state.
The transnational consortium involves five Chinese and one Thai firms. The announcement for construction and operation of industrial park and deep sea port projects of the Kyaukphyu SEZ was made by Myanmar's Kyaukphyu SEZ Bidding Evaluation and Awarding Committee (BEAC) following the approval by the government cabinet and parliament. The CITIC Consortium also comprises Thailand Charoen Pokphand Group Company Limited (CP Group), China Harbor Engineering Company Ltd. (CHEC), China Merchants Holdings (International) Co. LTD(CMHI) , TEDA Investment Holding(TEDA) and Yunnan Construction Engineering Group(YNJG). The CITIC Consortium formed the project joint ventures together with Myanmar local enterprises for the construction and operation of the two projects which will be implemented under the framework of the "Myanmar Special Economic Zone Law" promulgated by Myanmar government in 2014.
Consulted by Singapore JURONG and PwC, CITIC Consortium participated in the bidding and submitted the proposals.
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