Bangkok: Thai and Myanmar authorities will relaunch tenders for the much delayed Dawei Special Economic Zone before the end of the month.
An audit is due to be finished this month to work out how much Italian-Thai Development spent on developing the zone before its contract was cancelled. ITD claims it spent $190m on the project before its contract was cancelled as Thailand and Myanmar wanted to speed up the development process. Once ITD has been reimbursed Myanmar and Thai authorities will invite firms to invest in the project once again.
Dawei, located south of Yangon, is planned to house a large-scale industrial area including a huge port. The development, however, has been racked by delays. [22/08/14]