India will invest US $ 103 million to resuscitate Sittwa Port,Burma
India is looking at an
investment of US $ 103 million to
resuscitate the Sittwe port on the northwestern coast of Burma to give a leg up to bilateral trade between the two countries.
The government's Rail India Technical and Economic Services Ltd. (RITES) will execute the project which is slated to be commissioned by the end of 2009.
The redevelopment of the port will also improve navigability on the Kaladan River in Burma and enable the opening of another trade route between the Northeast and the rest of India with southern Mizoram as the hub.
This was announced by Minister of State for Commerce of India Jairam Ramesh in Aizwal on Friday during his two-day visit to Mizoram.
According to the minister, the Centre had
sanctioned over Rs 40 million to develop the land customs station at Zokhawtar to facilitate border trade with Burma and the project is being executed by the Border Roads Organization.
Besides, Rs. 25 million has been sanctioned for developing infrastructure in Demagiri to promote border trade with Bangladesh.