Thailand’s Italian-Thai Development Company (ITD) will cease their operation on November 20 at the Dawei Special Economic Zone (DSEZ); Dawei seizure claim stuns ITD

November 18, 2013 Leave a comment

Italian-Thai company to quit Dawei Special Economic Zone

Published on Sunday, 17 November 2013 17:43

The Italian-Thai Development Company (ITD) will cease their operation on November 20 at the Dawei Special Economic Zone (DSEZ) in Tanintharyi Region, southern Myanmar, according to local sources.

The company is facing financial difficulties for the project which started in 2008 and failed to carry out the project within the required time frame. Myanmar and Thailand governments had tried to intervene to keep the project alive. Though early reports said both governments would invite investments from international companies. But the plan never materialised and the local stakeholders are calling it “a waiting game.”“I also heard the ITD will leave the project. Only two working sites under the project will be remained. A stone mining site is sure and other 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 behind here. 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 letter came out yet.

Myanmar 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 kilometers wide. And later in 2011, another agreement was made between them for the implementation.

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