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.

[caption id="attachment_9405" align="alignleft" width="292"] Click to enlarge[/caption] 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...

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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