Thai developer quits Dawei port project

Bangkok: The stalled Dawei megaport project in Myanmar has taken another twist with the initial developer, Thailand’s Italian-Thai Development quitting the project, according to local media.

The $9bn project was aimed at building a port complex around 10 times larger than Thailand’s Laem Chabang port. The framework agreement signed between the Thai developer and the Myanmar government has now lapsed. Any further progress on the much talked about port project will almost definitely need involvement from Japan, which has yet to commit cash.  [18/11/13]

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