Myanmar confirms ITD deal still firm | Bangkok Post: business

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Myanmar confirms ITD deal still firm

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The 75-year concession granted to Italian-Thai Development Plc (ITD) in Dawei remains in place, but construction of the deep-sea port has stopped while the participation of international investors is being arranged, a spokesman for the Myanmar government said. 

Set Aung, adviser to the Myanmar President Office, brushed aside reports that the government has terminated the concession to ITD to develop a special economic zone and a deep-sea port in Dawei, eastern Myanmar.

Energy Minister Pongsak Raktapongpaisal, who headed the Thai team that visited Dawei earlier this month, said last week that the Myanmar government planned to take back the concession awarded to ITD, Thailand's largest construction company, after the Dawei project had been delayed for many years.

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