01 Feb Japan on board for Dawei project

Written by Mizzima Published in Development Read 2804 times
Dawei-SEZ
 A work crew clears and levels land at the Dawei Special Economic Zone site, in the Thanintharyi Region about 600 kilometres south of Yangon. Photo: Mizzima

The long-awaited multibillion-dollar Dawei megaproject in Myanmar is set to get off the ground after Japan agreed on January 30 to take part and possibly offer loans for road construction linking the scheme with the Thai border, according to the Bangkok Post on January 31.

Thai Deputy Prime Minister Pridiyathorn Devakula said Japan had aagreed to help develop the Dawei Special Economic Zone.

Japan will hold an equal partnership in Dawei SEZ Development Company, a special-purpose vehicle or company, to run the project.

Dawei SEZ Development replaced Italian-Thai Development Plc, which had received the original concession from the Myanmar government in November 2010.

Thailand and Myanmar in June 2013 agreed to set up the Dawei SEZ Development Company with an equal shareholding and initial investment of 12 million baht, far below the 100 million proposed earlier. The company is registered in Thailand.

Courtesy of the Bangkok Post

Last modified on Sunday, 01 February 2015 20:35