Thailand’s Italian-Thai company to quit Dawei Special Economic Zone

Italian-Thai Development Co (ITD) is poised to cease operation at the Dawei Special Economic Zone (DSEZ) in Tanintharyi Region on Nov 20, according to local sources.

The company has come under financial pressure since the project began in 2008 but failed to materialise. Its Myanmar partner Max Myanmar Group pulled out of the project last year snd both Myanmar and Thai governments had intervened to salvage this massive sourhern coastal heavy industrial ambition.

Though early reports said both governments would invite investments from international companies, it became just a waiting game thus far.

“I also was told ITD will leave the project. Only two working sites will remain. A stone mining site is one and another is not still clear. An official from the ITD will pay a visit on November 17. We will know after his visit. All Thai workers from other sites will return to their country after the project is officially ceased. Only Myanmar workers will be left. Senior officials are now attending a meeting,” said a worker on duty at the DSEZ when contacted.

When The Daily Eleven contacted the project support group, its secretary replied that any question can be answered only under permission of the concerned ministry, adding that he also heard the news about it, but no official announcement had been issued.

Myanma Port Authority and the ITD signed a MoU on June 12, 2008 in the official capital Nay Pyi Taw for the DSEZ which will be 250 square kilometer area. And later in 2011, another agreement was made for the implementation.

Source: ELVEN Myanmar

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