Thursday, December 5, 2013

Mitsubishi gets ball rolling for Japan’s involvement in Dawei SEZ

YANGON—Japan’s long-awaited involvement in the Dawei Special Economic Zone (SEZ) in Tanintharyi Region has finally begun with the Mitsubishi Corporation’s agreement to build a large, coal-fired power plant in cooperation with two Thai firms, according to the Dawei SEZ management committee.

The Mitsubishi Corporation will invest 30 percent in the power plant construction project.  The Electricity Generating Authority of Thailand (EGAT) will invest 50 percent, while Italian-Thai Development Co (ITD) will take 20 percent of the project.

The investment amount for the project will be one trillion Yen (315 billion baht, or Ks 9.59 trillion).

Upon completion of the project, the power plant will be able to generate seven million kilowatts of electricity. Three million kilowatts will be provided for the projects in Dawei SEZ, and the remaining four million kilowatts will be sold to Thailand.
The plant is expected to start operations in 2015.

“This project is a sign of collaboration between Myanmar, Thailand, and Japan. Mitsubishi’s involvement in the Dawei SEZ will attract other Japanese business people,” according to an EGAT official.