2 February 2015
Two Thailand-based companies will take up the development of the initial phase of Myanmar’s Dawei Special Economic Zone (SEZ) in the country’s Tanintharyi region following efforts by Myanmar and Thai governments in pushing the implementation of the delayed project, official sources said Monday.
The Italian-Thai Development Plc (ITD) and Rojana Industrial Park Plc (ROJNA) will sign the 1.7 billion U.S. dollars’ deal with Myanmar in March for the move.
The two companies proposed in their bid to develop a two-lane highway to link Thailand with Dawei and an industrial estate of 34 square-kilometers with a 75-year concession of 50 years plus a 25- year extension.
The construction period is targeted at eight years and to start in the second half of this year after contract signing, the sources said, adding that the first phase of the project targets to complete within five years with such infrastructure as telecom network, LNG terminal, a small port and a water reservoir.
Thailand will also provide soft loan to Myanmar to meet a budget of around 119.23 million U.S. dollars for the road construction, the Thai government was quoted as saying.
Meanwhile, Japan agreed to take part and offer loan for the road construction under equal partnership with Dawei SEZ Development Co, which is a special-purpose vehicle to run the project.
Myanmar and Thailand held the third meeting of Joint High Level Committee on comprehensive development of the Dawei SEZ last week in Bangkok to push the speedy implementation on the delayed Thai- invested Dawei SEZ.
Co-chaired by Myanmar Vice President U Nyan Tun and Thai Deputy Prime Minister Pridiyathorn Devakula, the meeting reaffirmed the two countries’ commitment to the development of the Dawei SEZ, which is a 196 square-kilometer strategic development project.
On completion of the project, it will be Southeast Asia’s largest industrial complex that includes highway link to Bangkok and the eastern seaboard of Thailand.
Myanmar and Thailand have been seeking revival of the years- delayed Dawei SEZ project although it started in November 2010 in accordance with a framework agreement.
Courtesy of Global Post
2 February 2015