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Thailand Property Project – Dawei ready to roll!

By on Jan 06, 2014 in Industrial, Investment-Land

After years of uncertainty, the prospects of the massive Dawei project took a recent twist when Thailand and Myanmar officially tied the knot to push the ambitious scheme forward.  With three memoranda of understanding signed by the two countries in November, the Dawei concession was transferred from Italian-Thai Development Plc (ITD) to Dawei SEZ Development Co (DSEZ), a special-purpose vehicle for the project.

DSEZ, a 50-50 venture of Thailand and Myanmar, now has a 75-year concession from Myanmar’s government to develop the special economic zone and a deep-sea port _ replacing ITD, which had received the concession from the Myanmar government in November 2010.

DSEZ is expected to award concessions for three projects _ a dual-lane highway linking Thailand with Dawei, a small port and an industrial estate _ by the second quarter of 2014.  ITD, meanwhile, can also bid on the three projects under the new plan. Initially, the contractor will team up with Rojana Industrial Park and other partners to bid on industrial estate development at Dawei, covering 30,000 rai at an investment of 100 billion baht.

Thailand’s caretaker government, meanwhile, has asked Japan to take part in Dawei, which involves big projects such as power plants, integrated steel mills and refineries.

The Dawei development is four times the size of the Thilawa SEZ that Japan has already committed to, but caretaker Commerce Minister Niwatthamrong Bunsongphaisan has said that Dawei’s site in eastern Myanmar will make it competitive as the deep-sea port sustains export-oriented industry.  Located some 350 kilometres from Bangkok by road, the project is envisaged as a key component of the East-West Corridor and supports Thailand’s vision of becoming the logistics hub of Asean.

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