Dawei News todayDaweei News today
Myanmar will have a low interest of 0.1% in accordance with the Cabinet's decision, said Myanmar's reappointed President Perames Vudthitornetirak. Now Myanmar has to file a credit request with Neda for review, he said. Situated between Thailand's Ban Phu Nam Ron in Kanchanaburi and the deepwater harbour of Dawei in Myanmar, the route is vital for promoting investments in the first stage.
Myanmar's Thai authorities approved the 4.5 billion BTB of loans to Myanmar to fund the roads in 2015, but the implementation was postponed because Myanmar had asked to re-examine the plans. In 2008, Myanmar and Thailand initialled a MOU on the development of the area with the goal of turning Dawei into the biggest industry and trading area in South East Asia.
Myanmar awarded SET-listed Italian-Thai Development Plc (ITD) a 60-year licence to build a deepwater harbor, an industry zone and roads and railway connections two years later. In the first stage there is a 27 square kilometre large industry area, a LNG station, fixed telecommunications lines, a small harbour, a storage facility and a small town.
Out of the overall area, 12,000 Rha are earmarked for a commercial area of lightweight industries. In addition, ITD is planning to make an investment in another coal-fired generating station as soon as the Dawei Industriegebiet is fully inaugurated. A further $500 million is earmarked for a crude petroleum production and refining operation to meet the plant's needs.
Mr Perames said that Neda wants to lend to Laos to finance the construction of a street along the Mekong that connects Uttaradits Phu Du with Laos' Vientiane. With a value of almost 2 billion Bahts, the route between Thailand and Vientiane would be reduced by 200 km and the journey would take two short hrs.
Lending details , and interest rates, are scheduled to be completed within the next few moths before the Cabinet, he said.