In a significant development for India, which has been trying to invest in Myanmar infrastructure in the face of growing competition from neighbouring China, Indian conglomerate Adani Group has won a 50-year concession to develop an 800,000 teu a year box terminal in the southwest of Yangon, said a report.
The Ahlone International Port Terminal (2) (AIPT) will be situated 50 km up the Yangon river from the Andaman Sea where the depths are 9 m quayside allowing ships of up to 1,500teus to call.
The $290 million facility will be spread across 50 ha. Its first phase, due for completion late next year, will have an initial 150,000 teus annual capacity.
Phase two, which will take an additional six months to construct, is expected to take the port’s total capacity to a maximum of 800,000 teus, said the report.
