Chinese Company CITIC hired the Canadian Company Hatch to perform an Environmental and Social Impact Assessment (ESIA) on Kyaukphyu project

The Chinese company CITIC, which was selected to develop Kyaukpyu Deep Sea Port, has hired the Canadian company Hatch to perform an Environmental and Social Impact Assessment (ESIA) of the project.

The agreement between the Myanmar Government and CITIC on this project was signed in November 2018; 70 percent of it is to be owned by CITIC, and the remaining 30 percent by the Myanmar Government.

On May 15, Hatch reached the agreement with CITIC to serve as a consultant, and to create the ESIA for the entire project.

The Kyaukpyu Special Economic Zone project includes a deep sea port, a special economic zone, and a housing project. The tender winner, CITIC, will develop the project on over 42,000 acres of land, using $9 billion of investments.

CITIC has said that they are committed to meeting international standards and the requirements of the Myanmar Government as they carry out the project. They look forward to starting the project and are optimistic about the results.

Furthermore, Myanmar Thilawa SEZ Holdings Public Co. – which developed Myanmar’s most successful economic zone, and is one of the five listed companies at the Yangon Stock 

(Myanmar Business Today: https://www.mmbiztoday.com/articles/canadian-company-hatch-hired-perform-esia-kyaukpyu-project )

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