Dawei needs Bt240bn in initial stage

Ita
 Somjet Tinnapong, managing director of Dawei Development Co Ltd - a subsidiary established to handle the development, said in an interview to Krungthep Turakij that the investment would cover works in the next 4 years and 6 months. This will include the world's largest deep-sea port which can accommodate 20 million tonnes of containers, or twice Laem Chabang Deep-Sea Port's capacity. The port in the next stage would see its capacity raised to 100 million tonnes.
 Another project involves a 4,000 megawatt coal-fired power plant which will require an investment of about US$10 billion. While 400MW would be used in Burma, the rest would be exported to Thailand. Ratchaburi Electricity Generating Holding Plc has confirmed to take up 25 per cent of the stake.
 Somjet noted that several global steel makers have shown interest in joining a smelting plant, including Posco, ArcelorMittal and Nippon Steel. Negotiation is underway, he said.
 Dawei Development is also in negotiation with several investors including Mitsubishi to invest in a petrochemical complex. The complex is set for completion within 3 years from January 2012, he added.
 ITD spent 16 years on the feasibility study. It won the exclusive right to develop the area on Nov 2, 2010, for a period of 75 years.
 Somjet said that the project's success lies in Burma's moves to open up the country.
 "I believe the industrial project would draw interest from global investors. The project is located near the Indian Ocean, offering connection with China, India and Indonesia whose combined population is over 3 billion. This is a world-class project, a gateway to Burma," he said.
 The company has recently completed the survey of onshore and offshore areas. A road is built to facilitate the transportation of construction equipment from Kanchanaburi to the site.
 To show Thailand's support to the project, a Thai government delegation covering the ministers of finance, foreign affairs and transport would set foot at the site for an investment briefing.
 Dawei will provide another exit to the Andaman Sea. While Burma is constructing a road from the site to the Thai border in Kanchanburi, Thailand has a plan to construct a motorway from Bang Yai, Nakhon Pathom, to Kanchanaburi.
 Somjet noted that Burma has set strict rules on environmental impacts. The government recently suspended a Bt120 billion dam project, due to local residents' resistance.
 "All countries are more aware of the environment. All investors need to follow the global rule," he added.