India Development News & Foreign Investment Opportunities

Indian funded infra at Sittwe operational

Multi-modal sea-river-road corridor

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Multi-modal sea-river-road corridor

 

Source: FICCI.

 

Infrastructure at Myanmar’s Sittwe Port, constructed with India’s assistance, is ready to be operational, Minister of State for Shipping, Mansukh L. Mandaviya told Rajya Sabha on 7 Jan 2019.

The construction of Sittwe Port is part of the Kaladan Multi Modal Transit Transport Project.

Its objective is to create a multi-modal sea, river and road transport corridor for shipment of cargo from the eastern ports of India to Myanmar through Sittwe port as well as to North-Eastern part of India via Myanmar.

Once fully operational, the project would encourage investment and trade and also open up alternate routes for connectivity to India’s North East Region.

Construction cost of Rs.517.29 crore was approved for Sittwe Port and Inland Water Terminals at Sittwe and Paletwa, he said.

A Bilateral Memorandum of Understanding (MoU) was signed by the Indian and Myanmar Governments on 22 October 2018 for operationalization of the Port at Sittwe and Inland Water Transport (IWT) Terminals at Sittwe and Paletwa. fiinews.com

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