A consortium of Chinese companies led by CITIC Group is looking to take a stake in Myanmar’s strategically important sea port of Kyauk Pyu, according to Hellenic Shipping News.
The consortium has proposed taking a 70-85% share in the $7.3 billion port, which is important to China because it offers an alternative route for energy imports from the Middle East.
Oil and gas arriving at Kyauk Pyu can be transported to China through pipelines.
The deal is controversial in Myanmar because of the large degree of...
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