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China Eyes $7.3bn Myanmar Port

Myanmar executives have said China is set to begin talks over buying a controlling stake in the $7.3 billion Myanmar seaport of Kyauk Pyu on the Bay of Bengal, according to Reuters. Documents show a consortium led by Chinese state-owned CITIC Group plans to buy a 70-85% interest in the port. Linking up with the port is part of China‘s “One Belt, One Road” policy that aims to finance infrastructure to build Chinese presence in the economies of Asia and worldwide. A second consortium led by CITIC has also discussed buying a 51% stake in a US$2.3 billion industrial park in the under-construction Kyaukphyu Special Economic Zone. https://www.porttechnology.org/news/china_eyes_myanmar_takeover

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