Myanmar will offer open tender for investment in development of Kyaukphyu Special Economic Zone (SEZ) in western Rakhine state, the third SEZ project in the country, local media reported Monday.

The Kyaukphyu SEZ project will include an oil wharf, airport, highway bus terminal, residential quarters and recreation centers, said the Weekly Elevens News.

With the consent of local inhabitants, the tender for the Kyaukphyu SEZ project will be done in transparent manner, giving priority to local investors, the Kyaukphyu SEZ Administration Committee Chairman U Myint Thein, who is also Deputy Labor Minister, was quoted as saying.

The administration committee is cooperating with Japan's Nippon Koei Company in designating project area, assessing the cost of electricity through gas turbines, laying down master plan and promulgation of Kyaukphyu SEZ Law, the report added.

The Kyaukphyu SEZ is the third of its kind being planned after Thilawa and Dawei. Development of Thilawa SEZ in Yangon mainly involves Japanese investors, while Dawei SEZ in southern Tanintharyi region will be developed by Thai entrepreneurs.