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Sittwe Port to receive Indian investment

Mumbai: The Indian Government has confirmed that it will invest Rs 4.5 billion ($100m) to rebuild Myanmar's Sittwe Port in order to connect North East India with Mizoram through the Kaladyn River. "New Delhi wants to connect northeast India with the ASEAN (Association of South East Asian Nations) countries without Bangladesh," Indian Minister of State for Commerce Jairam Ramesh (pictured) told local newspapers. The project, which will kick off in January, is slated for completion within three years. Bilateral trade between Myanmar and India rose by 24% to approximately $557m for the 2005-06 fiscal year ended March.

Mr Ramesh said that the Indian government may be prepared to approach Dhaka to negotiate use of Bangladesh's ports upon the formation of a new government.  [29/12/06]

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