Singapore Consortium Wins $2.5-m Kyaukphyu SEZ Consultancy Deal

Singapore-based consortium Creative Professional Groups (CPG) has won a tender bid to get selected as the consultant firm for the Kyaukphyu Special Economic Zone (SEZ) in Myanmar’s southeastern Rakhine state.

CPG came out on top out of a total 17 companies that bid for the tender worth $2.5 million, while Netherland-based KPMG was selected as backup, joint secretary of the Kyaukphyu SEZ bid evaluation and awarding committee, U Aung Kyaw Than, told a news conference. A total of 31 companies expressed interest to take part in the bid in the first phase of the tender.

The estimated expenditure for Kyaukphyu SEZ is about $277 million, bid evaluation and awarding committee secretary U Myint Thein said, adding that the consultant will receive 5 percent of the estimated expenditure according to international practice.

CPG will provide consultancy services regarding land issues, deep sea port construction, finance and project programs and calling tenders to recruit the SEZ developer.

The CPG consortium comprises five companies including DTZ, G Maps and PM Link, U Aung Kyaw Than said.

“Kyaukphyu SEZ is not a state project but a private one. The deep sea port here will facilitate ocean liners and there are a lot of opportunities as this SEZ is close to big markets of India and China,” Deputy Minister for Finance U Maung Maung Thein said.

The SEZ is being developed in four stages, while the first one – a conceptual plan – have been finalised with input from economists, businesspeople and Kyaukphyu locals. Selecting the consultant was the second stage, while the third one involves inviting tenders for a developer. The fourth stage will see the construction of the 1,000-acre SEZ.

Source: Myanmar Business Today

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