(Yicai Global) Sept. 3 -- China CAMC Engineering has won a USD211 million contract to expand the Thilawa Shipyard in Myanmar, formerly known as Burma.
The Beijing-based firm penned a deal with the Directorate of Procurement, Office of the Commander-in-Chief of Myanmar Army, to build the third phase of the shipyard yesterday, it said in a statement the same day. CAMCE will build a dry dock with capacity 40,000 tons and supporting facilities over the next six years.
CAMCE built the Yangon-based yard after signing a construction agreement in 1998 and finishing the job in 2002. The shipyard has built several ships for Myanmar's navy.
Shares in the contractor [SHE:002051] went largely unmoved and were up 0.3 percent at CNY10.04 (USD1.40) as of 2.41 p.m.
Editor: James Boynton