Sky brightens over Dawei
ITD chief breathing easier as some of the obstacles standing in the way of huge Myanmar megaproject are being overcome.
- Published: 12 Nov 2012 at 12.28
- Newspaper section: Asia focus
Premchai Karnasuta first started thinking about doing business in Myanmar 18 years ago. He had the go-ahead from the government for a small project in a sleepy port town called Dawei when Thailand’s financial crisis erupted and put an end to the plan. As Myanmar’s political conditions deteriorated and its isolation grew, dreams of doing business there receded.
The Dawei Special Economic Zone development will include a $50-billion deep-sea port and industrial complex in southern Myanmar.
Now the company founded by Mr Premchai’s family, Italian-Thai Development Plc (ITD), has returned to Dawei in a big way as the lead contractor on a seaport and industrial complex worth tens of billions of dollars.
This article is older than 60 days, which we reserve for our premium members only.You can subscribe to our premium member subscription, here.
