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.
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