NAYPYITAW (Reuters) - Myanmar has scaled back plans for a Chinese-backed port on its western coast, sharply reducing the cost of the project after concerns it could leave the Southeast Asian nation heavily indebted, a top government official and an advisor told Reuters.
The initial $7.3 billion (5.6 billion pounds) price tag on the Kyauk Pyu deepwater port, on the western tip of Myanmar's conflict-torn Rakhine state, set off alarm bells due to reports of troubled Chinese-backed projects in Sri Lanka and Pakistan, the official and the advisor said.
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