Prayut set on repairing cancelled Dawei contract

Thailand remains committed to the Dawei development project, despite a recent setback on SET-listed Italian Thai Development’s (ITD) concession termination, says Prime Minister Prayut Chan-o-cha.

On Friday, ITD submitted a request for the government’s help to the prime minister after the Dawei Special Economic Zone Management Committee (DSEZ MC) sent a notice of termination for seven concession agreements at the Dawei special economic zone (DSEZ) to five project companies, in which ITD had partial ownership.

Gen Prayut said he has already authorized Deputy prime minister Supattanapong Punmeechaow, who is chairman of the Thai-Myanmar Joint High-Level Committee (JHC) for the DSEZ, and Finance Minister Arkhom Termpittayapaisith, who is chairman of Joint Coordinating Committee (JCC), to negotiate with Myanmar officials on this issue.

The premier authorized Mr Supattanapong and Mr. Arkhom to examine whether the contract between ITD and DSEZ MC is protected under the ASEAN Charter.

The ASEAN Charter is a constitutional instrument to provide legal status and institutional framework for the 10 ASEAN member states.

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“The Dawei development projects have had many problems. However, I expect the project will improve and result in better developments following negotiations between the two countries,” Gen Prayut said.

Last week, Mr. Supattanapong gave Gen Prayut possible actions the government could embark on. The Finance Ministry and related state agencies are also overseeing the matter.

Finance Minister Arkhom Termpittayapaisith called an urgent meeting last Thursday with representatives from the National Economic and Social Development Council, the Budget Bureau, the Foreign Ministry and the Neighbouring Countries Economic Development Cooperation Agency to form solutions and monitor the progress of the 4.5-billion-baht loan the government planned to offer Myanmar to construct a road from the Thai border to the Dawei project.

Last week, Mr. Supattanapong said the government was committed to offer the 4.5-billion-baht loan to Myanmar’s government to construct a 139-kilometer road from the Ban Phu Nam Ron border in Kanchanaburi to the Dawei project.

ITD last week informed the Stock Exchange of Thailand five projects under the firm’s consortium received a notice of termination for seven concession agreements from the DSEZ MC on Dec 30.

The five project firms allegedly failed to make concession fee payments and cannot comply with certain conditions.

On Jan 11, the ITD board met and resolved to appoint a legal adviser to prepare a letter of clarification and rebut DSEZ MC’s allegations.

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Source: Bangkok Post

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