Dawei project gets nod from Thailand

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Thailand’s cabinet has approved the investment plan for the Dawei deep seaport development project in Myanmar, according to a report by state-owned Thai News Agency on May 23.

Thailand’s Neighboring Countries Economic Development Cooperation Agency will take part in founding and investing in the Dawei SEZ Development Company. The multibillion-dollar project, which first won approval from the Myanmar government in March 2010, has since stalled due to financing concerns and a lack of involvement by foreign investors.

It is expected that Myanmar and Thailand on May 27 will sign an agreement to establish a special purpose vehicle (SPV) to manage the Dawei deep sea port and special economic zone development.

The SPV would take over the management concession for Dawei from Italian-Thai Development Plc, Thailand’s largest construction firm. Italian-Thai will however continue to develop the infrastructure, including roads and the port.

Thailand is committed to 35 per cent of the $9 billion-dollar Dawei project, which is located on the coast of Tanintharyi region in southern Myanmar and would also serve as a cargo port for Thai exports.

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Reading Time: 1 minute

Click to enlarge

Thailand’s cabinet has approved the investment plan for the Dawei deep seaport development project in Myanmar, according to a report by state-owned Thai News Agency on May 23.

Reading Time: 1 minute

gateway
Click to enlarge

Thailand’s cabinet has approved the investment plan for the Dawei deep seaport development project in Myanmar, according to a report by state-owned Thai News Agency on May 23.

Thailand’s Neighboring Countries Economic Development Cooperation Agency will take part in founding and investing in the Dawei SEZ Development Company. The multibillion-dollar project, which first won approval from the Myanmar government in March 2010, has since stalled due to financing concerns and a lack of involvement by foreign investors.

It is expected that Myanmar and Thailand on May 27 will sign an agreement to establish a special purpose vehicle (SPV) to manage the Dawei deep sea port and special economic zone development.

The SPV would take over the management concession for Dawei from Italian-Thai Development Plc, Thailand’s largest construction firm. Italian-Thai will however continue to develop the infrastructure, including roads and the port.

Thailand is committed to 35 per cent of the $9 billion-dollar Dawei project, which is located on the coast of Tanintharyi region in southern Myanmar and would also serve as a cargo port for Thai exports.

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