India finalised the plan to invest in Myanmar port

Aizawl, Feb 16: The Centre has planned to start direct trade between North Eastern states and South Asian countries through Sittwe Port in Myanmar bypassing Bangladesh.

Union Commerce Ministry officials here today said after a series of high-level meetings between India and Myanmar, the Centre has got a go ahead from the Myanmar government to develop the port in that country's western Rakhine coast and Mizoram would emerge as trade hub after trade between India and SE Asian coutries starts.

Sources said the Centre is giving final touches to the project and India would invest US $ 103 million for developing the Sittwe Port under Kaladan multi-purpose project.

Sittwe Port, about 160 km from Mizoram, is located in West Myanmar on Bay of Bengal, sources said adding that it was an important port and used for rice export after the British occupied it in 1826.

UNI