Agartala, Nov 15 (UNI) As part open Asia Policy, the Centre has decided to finalise the augmentation of surface and underwater network of Rs 420 crore Kaladan multi-model link project between India and Myanmar.
Official sources here today said the Union Commerce Ministry had given green signal for the much-needed transit access project following a high-level meeting of both the countries recently and union cabinet is likely to give its approval soon.
The project would develop a port at Kaladan river in Myanmar and construct new roads in Chin Hills and Arakan Yoma areas near Paletwa and Tiddim towns in that country besides upgrading the Sittwe port.
Officials, however, underlined that it had proposed to increase access to northeastern Myanmar to ensure a trade between the North East India and Myanamar as an international free tariff border market had already been set up in Champai, Mizoram.
They also stated that the Myanmar authority had already carried out a feasibility study to build a deep-sea port in Tanintharyi, which would give a boost to Indo-Myanamar trade and have maritime contact with Myanmar.
''Centre is keen to develop the project for setting up bilateral trade among southeast Asian nations and newly formed seven-Asian nations regional platform, Bay of Bengal Initiative for Multi Sectoral Technical and Economic Cooperation comprising Bangladesh, India, Myanmar, Sri Lanka, Thailand, Bhutan and Nepal have also appreciated the move,'' officials added.