"Locals from Rakhine and communities across Myanmar think that the previous 85/15 percent agreement is unfair to Myanmar. The port is part of two projects, which also include an industrial park, to develop a special economic zone in Rakhine. China says the Kyauk Pyu development is based on "win-win" co-operation between the two countries. CITIC's consortiums include China Harbor Engineering Company Ltd, China Merchants Holdings, TEDA Investment Holding and Yunnan Construction Engineering Group. A total of 52 Myanmar companies will contribute to half of Myanmar's stake in the Kyauk Pyu port, according to San Myint, general manager of the local consortium Myanmar Kyaukpyu Special Holding Company.

Source: bd News24 October 17, 2017 14:03 UTC