China's CITIC to build Myanmar's huge Kyaukphyu Deep Seaport, first phase to cost US$1.3 bln

A jetty in Kyaukphyu, Rakhine State.

According to the notification issued by Myanmar Economic Zones Central Committee dated 29 February, 2015, the project has a total area of 4289.32 acres—607.88 acres for the deep seaport project, 2446.07 acres for the industrial zone project and 1235.37 acres for the advanced housing project.

A framework agreement was signed by Kyaukphyu Special Economic Zone Management Committee and the CITIC Consortium from China in Nay Pyi Taw on 8 November, 2018. The agreements pertaining to Kyaukphyu Special Economic Zone Project and Deep Sea Port Project were signed. On 18 January, 2020, both sides exchanged the MoUs.