A consortium led by Chinese CITIC Group Corporation has won the bid to for the deepwater port construction project in Kyaukpyu Special Economic Zone, Myanmar.

The consortium comprises of CITIC Group Corporation, Chia Tai Group, CHEC, China Merchants Group, Tianjin Teda and Yunnan Construction Engineering Group.

The project is estimated to be worth USD 5.4 billion, covering a total area of 4,289 acres. It has been divided into the three parts:  deepwater ports project, industrial park and residential quarters.

The deepwater port projects consists of two terminals, Made Island Terminal and Yabye Island Terminal, which cover an area of 370.7 acres and 237.2 acres respectively. The project involves the construction of ten 100,000t  berths with a total length of 4.1 kilometers, a road and a bridge.

The construction of the deepwater port is expected to take 20 years, divided into four stages.

Once completed, the port is expected to reach annual capacity of 7.8 million tons of bulk cargo and 4.9 million TEU containers.