In collaboration with China’s state-owned enterprise CITIC Group, Myanmar Agribusiness Public Corporation (MAPCO) is expected to start three business projects this year, said MAPCO Chair U Chit Khine. “Negotiations for the businesses are currently underway between MAPCO and China’s CITIC Group conglomerate. CITIC Group has also agreed to provide US$ 17million as an initial guarantee for the projects,” according to U Chit Khine. An in-principal agreement has been reached between the two companies to cooperate on three projects. An agribusiness services centre project, an engineering and contracting business and a rice industry project. The rice project is expected to result in joint investments in Kyaiklat, Nay Pyi Taw, Myaungmya, and Kyauktaw in Rakhine State and a rice mill project in Twante Township. The engineering and contracting project is expected to provide construction jobs to CP Group, a CITIC group subsidiary, and other local companies. The agribusiness services center project will involve opening service centers in 33 townships across the country. Developing the service centers would cost about US$ 400million. Discussions about the financing and government approvals are being held. MAPCO is a private company established in 2012 to be the largest agriculture-based company in Myanmar.