Dawei project gets slowly back on its feet

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Road-construction-dawei-project
Road construction around Dawei

Thailand and Myanmar have agreed to breathe life into the idling Dawei project of an industrial park cum sea port in southern Myanmar and have signed an agreement to create a joint venture for developing the zone.

The new firm, Dawei SEZ Development Co. Ltd., is expected to draw capital from investors from Japan as well as other countries. It will require $1.4 billion of investments during the first 5 years of development, between 2014 and 2018, the office of the Thai prime minister said.

During this phase, a road will be constructed to link the Dawei project with Ban Phu Nam Ron in Thailand’s Kanchanaburi province. A small port will also be built, and development of accommodating areas such as residential areas will take place. Furthermore, a natural gas power plant and a water reservoir will be constructed.

Thailand and Myanmar will each take a 50 per cent stake in the joint venture, which will have an initial registration capital of 12 million baht ($387,000).

The Dawei Special Economic Zone was originally a much larger project but has been delayed as Japanese investors withdrew from the mega-investment. Now the Thai government wants to revive the development as Dawei would be an important economic hub for the country, shortening sea transport to the West significantly.

 

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Reading Time: 1 minute

Road construction around Dawei

Thailand and Myanmar have agreed to breathe life into the idling Dawei project of an industrial park cum sea port in southern Myanmar and have signed an agreement to create a joint venture for developing the zone.

Reading Time: 1 minute

Road-construction-dawei-project
Road construction around Dawei

Thailand and Myanmar have agreed to breathe life into the idling Dawei project of an industrial park cum sea port in southern Myanmar and have signed an agreement to create a joint venture for developing the zone.

The new firm, Dawei SEZ Development Co. Ltd., is expected to draw capital from investors from Japan as well as other countries. It will require $1.4 billion of investments during the first 5 years of development, between 2014 and 2018, the office of the Thai prime minister said.

During this phase, a road will be constructed to link the Dawei project with Ban Phu Nam Ron in Thailand’s Kanchanaburi province. A small port will also be built, and development of accommodating areas such as residential areas will take place. Furthermore, a natural gas power plant and a water reservoir will be constructed.

Thailand and Myanmar will each take a 50 per cent stake in the joint venture, which will have an initial registration capital of 12 million baht ($387,000).

The Dawei Special Economic Zone was originally a much larger project but has been delayed as Japanese investors withdrew from the mega-investment. Now the Thai government wants to revive the development as Dawei would be an important economic hub for the country, shortening sea transport to the West significantly.

 

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