Japan in July will sign a tripartite agreement to join development of the Dawei special economic zone in Myanmar, an official said Monday.
Hiroto Izumi, special adviser to Japanese Prime Minister Shinzo Abe, confirmed Japan's willingness to finally commit to the project during a meeting with Prime Minister Prayut Chan-o-cha at Government House today, government spokesman Yongyuth Mayalarp said.
The special adviser was quoted as saying Japan was ready to invest in the Dawei SEZ Development Co through the Japan International Cooperation Agency and Japan Bank for International Cooperation.
The largest of its kind in Southeast Asia, the US$50-billion Dawei project will include a deep-sea port with the capacity to hold 250 million tonnes of cargo, an economic zone that will cover more than 200 square kilometres, factories, its own coal mine and power plant for electricity, and even golf courses and five-star hotels for visiting executives.
The German Press Agency reported last week that the signing of the primary Dawei development agreement between the Thai and Myanmar governments and real-estate developer Italian-Thai Development Co was delayed for the third time, until early June.
The two governments and developer postponed signing of the pact that would kickstart construction of the Dawei deep-sea port reportedly due to administrative slowdowns in Nay Pyi Taw, Pravee Kamolkancha, Italian-Thai's marketing manager, told dpa.
The signing agreement was delayed twice before; it was first due to be signed in March, and then in April.
In his meeting with Gen Prayut, Mr Izumi also reiterated that Japan attached special importance to its initiative to build a high-speed rail line from Bangkok to Chiang Mai province. He also said his government would send Japanese farm-products traders to sample Thai food and fruit in Thailand.