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Tuesday, February 9, 2016

Thilawa, Kyaukpyu port terminals play crucial part in developing Myanmar’s economy

Thilawa Port Terminal accepts docking of cargo vessels.

Yangon February 9

The development of Thilawa and Kyaukpyu Port Terminals plays an important role in promoting the country’s economic growth, according to a survey made by the UK-based shipping analyst Drewry.

Thilawa Terminal is located near the commercial hub Yangon. It is a crucial as the country’s first-ever special economic zone project is being implemented near such terminal.

The 396-hectare Zone- A of Thilawa SEZ which is located 25 kilometers southeast of Yangon is being implemented in two phases. Initiated in late November 2013, the first phase comprising 211 hectares was put into operation in September.

Currently, the second phase of Zone-A comprising 150 hectares has been under construction, which is scheduled to be completed by mid-2016.

In January this year, Japanese companies and the Myanmar Port Authority agreed to expand the Thilawa Terminal. The project covers an expansion of terminal which allows bigger cargo ships to moor. The project will implement with US$115.8 million investment.

Business people also show their interest in expanding Kyaukpyu Terminal in Rakhine State. They estimate that the terminal is suitable for meeting international level as there has good features.

The Kyaukpyu Special Economic Zone will see the development of a deep sea port that will unlock the potential of the hinterland and fulfill Myanmar’s potential as a trade corridor for Africa/ Middle East and China. It will provide employment opportunities through the creation of industrial and fishery parks as well as integrated residential areas.

Due to the strong points of Kyaukpyu Terminal, the government decided to establish the Kyaukpyu Special Economic Zone. The China-based CITIC Group Corporation received green light from the authorities to implement the project. The project is estimated to be cent per cent completed by 2025.

The UK-based shipping analyst Drewry said that both projects rely on the development of those terminals.


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