Myanmar port goes ahead - but no coal
ITD will press on with the Dawei project pending reconsideration of the plans
Uncertainty is hanging over a key detail of the Dawei port and industrial zone in southern Myanmar following a decision by the government to veto a coal-fired power plant.
Myanmar’s government cited public opposition and environmental concerns as the reasons behind its decision: therefore, its no longer clear what will power the energy plant, part of the multibillion dollar project which includes the port, roads and a communications network in its first phase.
ITD, the Thai conglomerate which is developing Dawei, told press they have yet to receive formal notification of the decision but will press on with the project pending reconsideration of the plans.
ITD has been granted a 75-year concession for the energy project that will cover 250 square kilometers about 350 kilometers west of Bangkok.
However, ITD needs some US$8 billion to develop the port. “The funds will be raised in the form of equity, loans and strategic partners,” Somchet Thinaphong, managing director of Dawei Development Co (DDC) said.
India has already expressed interest in the project as a hub for India’s long-sought transport corridor to south east. Both Delhi and the private sector believe the port will allow India to develop its trade relationship with Southeast Asia as part of India’s “Look East” campaign.
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