Peninsula hotel shareholder eyes $1.6-billion project in Rakhine

YANGON—Singapore firm Huacheng International Resources Ltd and China’s Shanghai Bright Industry have jointly proposed a US$1.6-billion (2.41-trillion-kyat) development project to the Rakhine State cabinet. Representatives from the two firms visited Sittwe, the capital of conflict-ridden Rakhine State, on July 12 and met with National League for Democracy (NLD)-appointed Chief Minister U Nyi Pu. The state […]