- POSTED: 07 Jul 2014 18:23
- UPDATED: 09 Jul 2014 19:25
A Singapore-based consortium led by CPG Consultants has been appointed to develop the master plan for Myanmar's Kyauk Phyu Special Economic Zone that will include a deep-sea port and an industrial park.
SINGAPORE: A Singapore-based consortium led by CPG Consultants has been appointed to develop the master plan for one of three large special economic zones planned by Myanmar that will include a deep-sea port and an industrial park.
The CPG consortium that will help plan the development of Myanmar's Kyauk Phyu Special Economic Zone (SEZ) include real estate services firm DTZ Debenham Tie Leung, Ernst & Young Solutions LLP, consultancy Global Maritime And Port Services (GMAPS) and PM Link.
Kyauk Phyu, in western Myanmar, is one of three SEZs earmarked for development by the country's government. The other two SEZs are Dawei in the south of the country and Thilawa, which is near Yangon.
When fully developed, the Kyauk Phyu SEZ will cover some 75 square kilometres.
The consortium will invite interested firms to submit their expressions of interests in July 2014 for phase one of the economic zone, which will include three key elements -- development of a deep sea port, an industrial park, and an integrated residential area with education, health care, and recreational facilities.
Nina Yang, executive director of CPG Consultants, said: "It is the window to future urban growth of Myanmar. There are about seven urban centres in the northern part of Myanmar, which is untapped. That's within Myanmar, then it is the window to southwest of China, and also to eastern India.
"In the short term, we are looking at three major kinds of industries: construction materials industry, textiles."
On its part, the Myanmar government will upgrade the existing road network in Kyauk Phyu SEZ.
A new power plant and power lines are also under construction, CPG said.
CPG declined to say how much development of the SEZ is expected to cost.
CPG Consultants is a subsidiary of CPG Corp, the corporate entity that was once Singapore's Public Works Department.
The Myanmar economy has been growing at an average annual rate of 10.3 per cent over the last nine years.
The Kyauk Phyu economic zone is expected to contribute to Myanmar's economic growth forecast of 8.6 per cent over the next decade. Phase one is expected to create 50,000 jobs for locals.