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The construction companies for a planned special economic zone in Arakan State will be selected through an international tender process that will conclude in December, officials in charge of the SEZ said on Thursday.
The Kyaukphyu SEZ project– which will include a port, an industrial zone and a residential area – is led by Singapore-based CPG company. According to state media, it is valued at about US$227 million.
Myint Thein, secretary of the project’s committee, said on Thursday during an event in Rangoon that three companies will be selected in December to construct the project, which will span about 4,000 acres.
“We will choose the three developers for this Kyaukphyu special economic zone in December. They have to then draw up the detailed planning in January and February,” Myint Thein said. “After drawing up the plan, we will go through the project plan.”
The government has high hopes for this industrial zone because of its geographical location, said Maung Maung Thein, deputy minister of finance, who is also serving on the selection committee for the SEZ’s construction companies.
“Kyaukphyu is situated between three giants,” Maung Maung Thein said.
Situated near China and India, the SEZ’s deep sea port will also be able to process commerce from ASEAN member states as well, he said.
The location of the economic zone is the starting point for the Shwe Gas pipeline to China. Backed by an international consortium headed by the China National Petroleum Corporation, the oil and gas pipelines run 500 miles from Kyaukphyu to Yunnan, China, and currently pumps natural gas from the Bay of Bengal with crude oil due to begin flowing later this year.
Besides the Kyaukphyu SEZ, Burma is also implementing SEZs in Thilawa, in southern Rangoon, and Dawei, in Tenasserim Division. A Chin State minister also said this week that two SEZs planned in the state capital Hakha and Tedim will be completed in early 2015.