Thailand Set to Lend Myanmar $128m to Build Road From Dawei SEZ to Border

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Thailand is due to lend Myanmar $128 million to build a road from the Dawei Special Economic Zone to a town across the Thai border, according to a minister.

Thai Transport Minister Arkhom Termpittayapa­isith said Myanmar rep­resentatives agreed to the loan at a joint committee meeting of the SEZ last month, according to the Bangkok Post.

The proposed road would be 132km long with two lanes, and cost around K175 billion in lo­cal currency. It would end at Ban Phu Nam Ron in Thailand’s Kanchanaburi district.

The loan would have an interest rate of 0.1% and be repayable within 20 years.

“The Myanmar govern­ment has green-lighted this project because it is seen as a key mechanism to bolster the Myan­mar economy especially through trade and invest­ment promotion as well as job creation and income generation,” Mr Arkhom told the Bangkok Post.

Thailand’s Neighbour­ing Countries Economic Development Coopera­tion Agency is studying the details of the loan pro­ject and will announce its conclusions in March, the minister said.

The Agency will also decide when to go ahead with a port and a power plant at the SEZ when it meets to announce its decision on the loan. The port and plant are due to be built by the Italian- Thai Development con­glomerate.

 

Source: Myanmar Business Today

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