New Delhi, May 14 (ANI): Engineering procurement and construction company Essar Projects Limited has signed a contract with the Ministry of External Affairs to build a multi-modal transit transport project in Myanmar, which includes two jetties, a port and cargo barges.
The project named 'Kaladan Multi Modal Transit Transport Project' involves construction of two jetties at Sittwe and Paletwa in Myanmar, dredging and construction of cargo barges, as well as the construction of a 120 kilometers-long road, to facilitate cargo movement along the river Kaladan.
The project was executed by the Central Government under an agreement between the two countries to ease the movement of goods from India to the northeastern states of the country.
"I am extremely delighted that today we could sign a contract with Essar, which has emerged successful in the bidding process, I think collectively it will be our endeavour to make sure that this project is implemented on time," said T. S. Tirumurti, Joint Secretary in the Ministry of External Affairs.
The contract is worth Rs 3.42 billion and is to be executed within 36 months.
Essar officials said that they might consider of sub-contracting some of the jobs.
"We may - based on the credentials choose some sub-contractors," said V. K. Bhatt, Vice President (Operations), Essar Projects Ltd.
The project will offer an alternate access to the North -East and therefore is strategically important.
It would also in turn help Myanmar develop their infrastructure and port facilities for accelerated development of the country. (ANI)