Burma's Dawei needs Bt240bn in initial stage

Construction News

Italian-Thai Development Plc will initially require an investment of about Bt240 billion to develop the infrastructure in Dawei, a designated industrial zone in Burma that covers about 200,000 rai.

Somjet Tinnapong, managing director of Dawei Development Co Ltd – a subsidiary established to handle the development, said in an interview to Krungthep Turakij that the investment would cover works in the next 4 years and 6 months. This will include the world’s largest deep-sea port which can accommodate 20 million tonnes of containers, or twice Laem Chabang Deep-Sea Port’s capacity. The port in the next stage would see its capacity raised to 100 million tonnes.

Another project involves a 4,000 megawatt coal-fired power plant which will require an investment of about US$10 billion. While 400MW would be used in Burma, the rest would be exported to Thailand. Ratchaburi Electricity Generating Holding Plc has confirmed to take up 25 per cent of the stake.

Somjet noted that several global steel makers have shown interest in joining a smelting plant, including Posco, ArcelorMittal and Nippon Steel. Negotiation is underway, he said.

Dawei Development is also in negotiation with several investors including Mitsubishi to invest in a petrochemical complex. The complex is set for completion within 3 years from January 2012, he added.

ITD spent 16 years on the feasibility study. It won the exclusive right to develop the area on Nov 2, 2010, for a period of 75 years.

Somjet said that the project’s success lies in Burma’s moves to open up the country.

Source and Read more…http://www.nationmultimedia.com/business/Dawei-needs-Bt240bn-in-initial-stage-30172736.html

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