Loxley eager to invest in Dawei project

Construction News Laos Vietnam

SET-listed Loxley Plc, one of Thailand’s oldest and biggest trading conglomerates, is making its return to Burma after an absence of several years by studying the opportunities to invest in the massive Dawei development project.

Jingjai Hanchanlash, an adviser to the company, said a team would visit Burma next month to look at project feasibility in Dawei and other parts of the country. Initially, Loxley is interested in power transmission lines and oil and gas terminal projects.

Loxley has a close partnership with SET-listed Italian-Thai Development (ITD), which was awarded a 10-year contract to develop infrastructure and industrial projects in Dawei.

The two companies jointly established a beer and beverage business in Laos and have been in close talks about developments in Dawei, said Dr Jingjai.

Loxley phased out its telecom business in Burma several years ago after its Canadian partner decided to leave the military-ruled country.

“We are making new efforts to resume investment in Burma, which is projected to have brighter economic prospects after the general election last year. The military may open up the country, which would facilitate investments from abroad,” said Dr Jingjai, who is also co-chairman of the Greater Mekong Subregion Business Forum at the Joint Public-Private Standing Committee.

The Thai government and businesses have been keen to take part in the Dawei development as well, especially the deep-sea port which would facilitate shipments of goods to southern and central Asia and the Middle East. Apart from infrastructure, Loxley is interested in border trade between the two countries.

Loxley operates power transmission lines in Laos and trades chemical products, animal feed, and information technology equipment in Vietnam.

Business from neighbouring countries contributes 25-30% of its total revenue.

Source: http://www.bangkokpost.com/business/economics/222658/loxley-eager-to-invest-in-dawei-project

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