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Adani wins Yangon port contract
Indian conglomerate Adani Group has won a 50-year concession to develop an 800,000 teu a year box terminal in the southwest of Yangon. Ahlone International Port Terminal (2) (AIPT) will be situated 50 km up the Yangon river from the Andaman Sea where the depths are 9 m quayside allowing ships of up to 1,500 teu to call. The $290m facility will be spread across 50 ha. Its first phase, due for completion late next year, will have an initial 150,000 teu annual capacity. Phase two, which will take an additional six months to construct, is expected to take the port’s total capacity to a maximum of 800,000 teu.
Third in India’s vicinity, China to build $1.3-bn deep-sea port in Myanmar
China has clinched a multi-billion-dollar deal to build a port at a strategic town along the coast of the Bay of Bengal in Myanmar, its third project in India’s neighbourhood after Sri Lanka and Pakistan. China and Myanmar signed an agreement to build the deep sea port project in Kyaukpyu town after negotiations dragged for years due to financing and other issues, state-run Global Times reported on Friday. China is also developing deepwater strategic Gwadar port in Pakistan in the Arabian Sea which faces the Mumbai coast. It has also acquired Sri Lanka’s Hambantota port on debt swap in the Indian Ocean.
Myanmar to establish multi-purpose terminal in Yangon region
Myanmar’s Yangon region authorities are seeking to establish a new multi-purpose terminal in the region, the official Global New Light of Myanmar reported. A new port will be set up in Kawhmu township aiming at promoting regional development, facilitating the country’s trade with neighboring countries as well as attracting foreign investments in the region. With storage terminal for fuel oil imports, the new port will be set up on 1,053 acres of land with a 2.2 km waterfront, having a 9-meter draft of river which is deeper than the Thilawa port. The Yangon port serves as the main gateway for 95 percent of the trade with foreign countries – mainly Malaysia, India, China, Sri Lanka, Indonesia, Vietnam, Bangladesh and Thailand via sea route. Source: Xinhua
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