4 Jan 2016

An international consortium headed by one of China’s biggest conglomerates has been awarded the project to develop the Kyaukphyu Special Economic Zone in Rakhine State…

The consortium is headed by CITIC and includes four other Chinese industrial and investment groups and one of Thailand’s biggest conglomerates, Charoen Phokphand…

Work on the 1,000-hectare (2,471- acre) industrial park is due to begin next month and be built in three phases…[T]he park will include textile and garment factories and construction materials and food processing industries, as well as marine supply and maintenance facilities…

The [Xinhua] news agency said that by 2025, 90 percent of the project managers at the two projects would be Myanmar citizens. It said the two projects would contribute about US$10 billion in annual GDP growth to Myanmar...