Myanmar’s Dawei project moves forward

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daweiThe Dawei deep-sea port and industrial project in southern Myanmar is taking another step ahead, with Thailand and Myanmar scheduled to sign three memoranda of understanding (MoU) on the development plan, the Bangkok Post reported.

the first MoU will cover the framework agreement on the Dawei concession, which will be transferred to Dawei SEZ Development Co (DSEZ), a special-purpose vehicle, from Italian-Thai Development Plc (ITD).

Thailand and Myanmar agreed in June to set up DSEZ with an equal shareholding and an initial investment of 12 million baht ($381,000), far below the 100 million baht ($3.1 million) proposed earlier. The company will be registered in Thailand.

The two countries also agreed to set up special-purpose companies (SPCs) to manage projects such as the port, road and rail links, power plants, water, industrial estates, a telecom network and the township. The SPCs will be registered in Myanmar.

ITD now holds a 75-year concession for the Dawei project from Myanmar’s government. The second MoU will concern the revocation of the existing concession between ITD and Myanmar, and the third MoU involves the warranty new investors in the port and roads are legally obligated to pay for what ITD has already invested. The exact investment by ITD is undisclosed, but a government source puts it at about 3 billion baht ($ 95 million).

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Reading Time: 1 minute

The Dawei deep-sea port and industrial project in southern Myanmar is taking another step ahead, with Thailand and Myanmar scheduled to sign three memoranda of understanding (MoU) on the development plan, the Bangkok Post reported.

Reading Time: 1 minute

daweiThe Dawei deep-sea port and industrial project in southern Myanmar is taking another step ahead, with Thailand and Myanmar scheduled to sign three memoranda of understanding (MoU) on the development plan, the Bangkok Post reported.

the first MoU will cover the framework agreement on the Dawei concession, which will be transferred to Dawei SEZ Development Co (DSEZ), a special-purpose vehicle, from Italian-Thai Development Plc (ITD).

Thailand and Myanmar agreed in June to set up DSEZ with an equal shareholding and an initial investment of 12 million baht ($381,000), far below the 100 million baht ($3.1 million) proposed earlier. The company will be registered in Thailand.

The two countries also agreed to set up special-purpose companies (SPCs) to manage projects such as the port, road and rail links, power plants, water, industrial estates, a telecom network and the township. The SPCs will be registered in Myanmar.

ITD now holds a 75-year concession for the Dawei project from Myanmar’s government. The second MoU will concern the revocation of the existing concession between ITD and Myanmar, and the third MoU involves the warranty new investors in the port and roads are legally obligated to pay for what ITD has already invested. The exact investment by ITD is undisclosed, but a government source puts it at about 3 billion baht ($ 95 million).

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