Bangkok: Thailand’s Italian-Thai Development has denied that the company has walked away from the stalled Dawei megaport project in Myanmar, following reports earlier in the week that it had quit the $9bn project.
A senior executive in charge of the project at the firm has told the Bangkok Post the company has the financial capability to proceed and that “the reports are not true, and the project has progressed thanks to cooperation between the Thai and Myanmar governments in seeking financing.”
The framework agreement signed between the Thai developer and the Myanmar government has now lapsed, however it is believed that the governments of Thailand and Myanmar will sign some form of new agreement today. [21/11/13]
