Throughout several months of bidding and evaluation process, the agreement for consultancy services and preliminary field investigation works (the "Agreement") of the Kyauk Phyu Special Economic Zone Deep Sea Port Project ("KPSEZ DSP Project") was signed in Beijing on September 15, 2021. This signals an important step in joint development of the KPSEZ DSP Project by Myanmar and CITIC Consortium.
CITIC Consortium Myanmar Port Investment Limited, as the client, signed the Agreement with the successful bidder, a consortium composed by CITIC Construction and CCCC FHDI, a subsidiary of China Communication Construction Company.
As the authorized representative of CITIC Consortium, Mr. Yuan Shaobin, Executive General Manager of CITIC Myanmar，stated in the signing ceremony that CITIC Consortium will work together with the consultant to deliver high-quality preliminary field investigation works. CITIC Myanmar will take signing the agreement as an opportunity to promote the development of the KPSEZ DSP Project in order to boost Myanmar's economic and social development and increase the job opportunities and income in Kyauk Phyu.
The transaction documents of the KPSEZ DSP Project were signed during Chinese President Xi Jinping's visit to Myanmar in January 2020. Performing the preliminary field investigation works is one of the key tasks for the follow-up construction. With the approval of KPSEZ Management Committee, CITIC Consortium issued the international tender for the preliminary field investigation works through various channels including Myanmar's major newspapers, the company's official website and social media account. With the assistance of project management consultant HATCH Associates Ltd, CITIC Myanmar has reviewed the bid proposals in adhering to the principles of fairness and impartiality. The CITIC Construction - CCCC FHDI consortium ranks the first among all the bidders and is awarded the bid.