The Bid Evaluation and Awarding Committee (BEAC) of Myanmar's Kyaukpyu Special Economic Zone recently announced that a multinational consortium composed of CITIC Group Corporation, Chia Tai Group, CHEC, China Merchants Group, Tianjin Teda and Yunnan Construction Engineering Group had won the bid for the industrial park project and the deep-water port project in the Kyaukpyu Special Economic Zone.

In order to develop the 1,736-hectare Kyaukpyu Special Economic Zone, the government of Myanmar began to openly invite bids from domestic and foreign companies on September 29, 2014. The Assembly of the Union approved the land use plan for the Kyaukpyu Special Economic Zone on December 29, 2015.

According to the CITIC-led consortium, the industrial park project covers an area of 1,000 hectares and construction is scheduled to proceed in three phases and will commence in February this year.