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Thailand, Myanmar agrees on Dawei project infrastructure development plan

Source:Xinhua Published: 2013-6-18 15:57:42

A Thai-Myanmar joint committee agreed on infrastructure development plan of the Dawei special economic zone project (Dawei SEZ) in southeastern Myanmar.

Thai Deputy Prime Minister/Finance Minister Kittiratt Na-Ranong and Myanmar Vice President Nyan Tun who co-chair the Joint High- Level Committee (JHC) of the Dawei SEZ told a press briefing Monday that the JHC meeting has agreed on a framework of the five- year development plan between 2014 and 2018.

The development plan focuses on infrastructure development including roads connecting the Dawei project to border province of Kanchanaburi, small-size sea port, natural gas-fuelled power generating plant, reservoirs and land development for industrial estates.

Thai Prime Minister's Officer Minister Niwatthamrong Boonsongpaisan said the whole infrastructure development plan alone is expected to cost 300-400 billion US dollars. However, the first five-year infrastructure development plan will cost only $976 million.

The meeting also agreed that on the initial capital of Dawei SEZ Development, the company set up to give consultations, and invite and select investors to develop the project.

The finance minister said both countries will hold equal shares in the company through Myanmar's Foreign Economic Relations Department (FERD) and Thailand's Neighboring Countries Economic Development (NEDA) with 12 million baht or about $390,000 initial capital.
Posted in: Central & South Asia