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India to invest US $103 million on Sittwe port, Burma
India will invest US $ 103 million to redevelop the Sittwe port on the northwestern coast of Burma to boost bilateral trade between the two countries.
Siddique Islam
Mizzima News: 4 September, 2006
India will invest US $ 103 million to redevelop the Sittwe port on the northwestern coast of Burma to boost bilateral trade between the two countries.
The government’s Rail India Technical and Economic Services Ltd. (RITES) will execute the project which is slated to be commissioned by the end of 2009.
The redevelopment of the port will also improve navigability on the Kaladan river in Burma and enable the opening of another trade route between the Northeast and the rest of India with southern Mizoram as the hub.
This was announced by Minister of State for Commerce of India Jairam Ramesh in Aizwal on Friday during his two-day visit to Mizoram.
According to the minister, the Centre had sanctioned over Rs 40 million to develop the land customs station at Zokhawtar to facilitate border trade with Burma and the project is being executed by the Border Roads Organization.
Besides, Rs. 25 million has been sanctioned for developing infrastructure in Demagiri to promote border trade with Bangladesh.