Thailand, Myanmar Create Company to Invest in Dawei Project
Thailand and Myanmar have signed an agreement to create a joint venture for developing the Dawei Special Economic Zone in Myanmar, which will draw capital from investors from Japan as well as other countries.
Prime Minister’s Office Niwatthamrong Bunsongphaisan expects that Dawei SEZ Development Co. Ltd., the joint venture tasked with developing the Dawei SEZ and related areas, will require 1.4 billion USD of investments during the first 5 years of development, between 2014 and 2018. During this phase, a road will be constructed to link Dawei project with Ban Phu Nam Ron in Thailand’s Kanchanaburi province.
A small port will be built, and development of accommodating areas such as residential areas will take place. Furthermore, a natural gas power plant and a water reservoir will be constructed.
Thailand and Myanmar will each take a 50% stake in the joint venture, which will have an initial registration capital of 12 million baht.
Dawei Special Economic Zone will encompass a deep sea port, an industrial estate, residential areas, commercial areas, infrastructures, and road and rail links to Thailand. Oil and natural gas pipelines traversing the Gulf of Martaban to the border with Thailand are also included under the project.
Press Release, June 18, 2013