India, Myanmar to sign 110 million dollar transport project pact

March 30th, 2008 - 7:48 pm ICT by admin  

New Delhi , Mar 30 (ANI): India is all set to sign a multi-modal transport project agreement with Myanmar during the upcoming visit of Vice Senior General Maung Aye to India .

Vice Senior General Maung Aye will start his tour from Wednesday.

The 110 million dollars Kaladan multi-modal transport project will provide easier access to North East region, besides alternate connectivity between India and Myanmar , bypassing Bangladesh .

The project will provide connectivity between Indian ports on the eastern seaboard with Sittwe Port in Myanmar and through riverine transport and by road to Mizoram.

India is spending 100 million dollars as well as projects overruns whereas Myanmar will contribute 10 million dollars and land for the project.

According to sources, economic cooperation, connectivity, security and energy are among the issues that are expected to dominate the meetings between General Aye and the Indian leaders.

There have already been six rounds of talks since 2003 on the project, and both the countries have initialled the draft framework agreement on the project, draft protocol on facilitation of transit transport, draft protocol on financial arrangements and draft protocol on joint maintenance and administration. (ANI)

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