Italian-Thai Development (ITD) will hold at least 25% in eight joint ventures to be set up in Myanmar to develop infrastructure at the massive Dawei Special Economic Zone and deep-sea port during the first phase to open in 2016.
ITD president Premchai Karnasuta expressed relief on Monday that the Thai and Myanmar governments supported the project in eastern Myanmar. This would significantly reduce the financial burden on ITD.
Under the structures agreed by both governments, a special purposed vehicle (SPV) will be set up with the Thai and Myanmar sides holding a combined 60% with the rest from Japan and Korea.
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