China's CITIC-led consortium to take 70% stake in Myanmar's $7.2b sea port

China's CITIC-led consortium to take 70% stake in Myanmar's $7.2b sea port

FILE PHOTO: View of downtown Yangon, Myanmar September 23, 2015. REUTERS/Soe Zeya Tun/File photo

China has agreed take a 70 percent stake in a strategically important sea port in Myanmar, at the lower end of a proposed range amid local concerns about Beijing’s growing economic clout in the country, a senior government official said.

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