International tender will be invited to select a private port operator for the Kaladan multi-modal transit transport project in December, according to Myanma Port Authority.

A MoU on the appointment of a Port Operator for the Operation and Maintenance of Sittwe Port, Pletwa Inland Water Terminal and Associated Facilities was signed at Hilton Hotel in Nay Pyi Taw on October 22.

For the appointment of a private port operator, international tender will be invited and an Indian company or a Myanmar-India joint-venture company will be selected.

The MoU was signed by Win Khant, permanent secretary of the Ministry of Transport and Communications and Foreign Secretary of India Vijay Gokhale.

The MoU signing came after the Kaladan multi-modal transit transport project and three related agreements were signed in April this year.

The signing of the latest MoU between Myanmar and India was approved by the meeting (12/2018) of the union government.

The MoU signing will produce such benefits as more trade opportunities for Myanmar and India, emergence of international ports that will create direct trade links with other countries in addition to India, road transport improvement and regional development in Rakhine and Kachin states, job opportunities for local people and more visits of international tourists by sea.