In December 2009, CITIC Group singed an MoU on Kyaukpyu Deep Sea Port project under the witness of then Chinese Vice President Xi Jinping.
In September 2014,the government of Myanmar invited public tenders from all over the world for the development of the KP SEZ.
In November 2014, CITIC Group formed two consortiums including internationally-renowned companies for the DSP and IP projects and submitted bids.
In December 2015, CITIC Consortiems were formally awarded both of KP DSP and IP projects.
On 10 April 2017, witnessed by the Chinese President and Myanmar President , CITIC Group signed the Exchange of Letters with KP SEZ Management Committee, whereby both sides agreed to make joint efforts to promote the early signing and implementation of the projects.
CITIC Group signed a framework agreement on the Kyauk Phyu SEZ Deep-Sea Port Project on Nov. 8th 2018.