Government of Myanmar planned to develop Kyaukpyu Special Economic Zone Industrial Park Project in Kyaukphyu, Rakhine, Myanmar. Consortium of CITIC Limited and Government of Myanmar was the DBFOT developer with a 50-year concession for the industrial park project. The project covered the construction of 10 sq.km industrial park area. The industrial park project would be constructed in 3 phases, with a total construction duration of 23 years. The industrial park's first phase would be divided into areas for agriculture, ecotourism development and industry. The successful operation of the industrial park project would make Myanmar a new technology & manufacturing center in Southeast Asia. This was an important project of the China-Myanmar Economic Corridor and promoted Belt & Road Initiative Cooperation between Myanmar and China.