Dawei deep-sea port project

News and updates on business and industry in Myanmar/Burma.
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Re: Dawei deep-sea port project

Post by Admin » Tue Jul 07, 2015 8:24 am

Dawei SEZ finally gets green light in Tokyo
Thailand, Japan and Burma on Saturday effectively launched the US$50 billion Dawei special economic zone by signing an agreement in Tokyo that will have a deep impact on trade and investment in Southeast Asia.

Thai Prime Minister Prayut Chan-o-cha and Japanese Prime Minister Shinzo Abe both said the signing of the tripartite pact will boost the economic partnership between Japan and ASEAN.

Gen Prayut and Mr Abe held talks on Saturday after senior government officials of the three countries signed the memorandum on tripartite cooperation to develop the Dawei project as Burmese President Thein Sein looked on.

The signing came on the sidelines of a summit in Tokyo between leaders of Japan and the Mekong nations — Cambodia, Laos, Burma, Thailand and Vietnam — at which Japan pledged financial aid worth US$6.1 billion to the five Southeast Asian countries.

The largest of its kind in Southeast Asia, the Dawei project in Tavoy, southeastern Burma, will include a deep-sea port with the capacity to hold 250 million tonnes of cargo; an economic zone that will cover more than 200 square kilometres; factories; a coal mine and power plant for electricity; and golf courses and five-star hotels for visiting executives.

Dawei is projected to become the major gateway for the Mekong region’s trade with India, the Middle East and Africa, while linking Burma by road to Thailand, Cambodia and southern Vietnam.

“I’m convinced the signing of a memorandum of intent on the Dawei Special Economic Zone will create an opportunity to strengthen the economic partnership between Japan and ASEAN and Japan and Thailand ahead of the launch of the ASEAN Economic Community,” Mr Abe said in a joint news conference with Gen Prayut after their meeting.

When completed, the 200-square-kilometre economic zone “will become a new distribution centre for the world”, Gen Prayut said.

Full Story: DVB

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Re: Dawei deep-sea port project

Post by Admin » Wed Aug 26, 2015 10:27 am

Thai banks lead charge for Dawei contract
Siam Commercial Bank (SCB) is gearing up to offer financial facilities to fund investment by Italian-Thai Development Plc (ITD) in Burma’s Dawei deep-sea port and special economic zone (SEZ).

Thailand’s third-largest lender plans to be a leading arranger for the megaproject, said Arthid Nanthawithaya, deputy chairman and chief executive.

“SCB will resume its involvement in finance after the Dawei project has made progress. The bank will focus on projects with economic viability, particularly water-related and power infrastructure developments and the industrial estate,” he said.

The bank has been ITD’s financial adviser for the multibillion-dollar project since it started but has awaited a clearer direction from authorities ever since the scheme stalled.

Mr Arthid forecasts ITD will start bidding for project financing of the Dawei projects in the next three to six months.

To finance ITD-led investment projects at Dawei, ITD plans to borrow 70 percent of the capital required, with the rest coming from its own and its group’s funds.

SET-listed ITD has signed an agreement with the Burmese government to start developing the first phase.

The developer and its consortium partners have signed a concession agreement with Naypyidaw to develop Dawei, also known as Tavoy, for 50 years.

ITD expects a total investment budget of US$1.7 billion including $500 million for a 450-megawatt gas-fired power plant.

It plans to invest in another coal-fired power plant once the Dawei industrial zone is fully developed.

ITD president Premchai Karnasuta said Bangkok Bank was also interested in providing financial support for the project.

Japan, Thailand and Burma signed a memorandum of intent to hold equal shares in Dawei SEZ Development Co, the special-purpose vehicle that will manage the project, in Tokyo on 4 July.

http://www.dvb.no/news/thai-banks-lead- ... nmar/56582

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