Dawei SEZ Management Committee holds press conference on termination of contracts with Italian-Thai company

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Dawei SEZ Management Committee holds the press conference on the contract termination with the Italian-Thai Company on 18 January. Photo : MNA

A press conference on the status of initial implementations of the Dawei Special Economic Zone (Dawei SEZ) Project was held yesterday morning at the Ministry of Electricity and Energy in Nay Pyi Taw.
During the ceremony, Deputy Minister for Electricity and Energy Dr Tun Naing, in his capacity as Chairperson of the Dawei SEZ Management Committee, explained the SEZ project implementations, a summary of project background, agreements signed for the undertaking, and cooperation with Thailand and Japan for the project. The committee has sent a letter of notification to the company formerly permitted to build the initial project, informing the company about the termination of the permit-contracts.
The Italian-Thai Development, which was initially awarded the right to build the project, repeatedly delayed it, failed to fulfil contractual financial obligations, and failed to submit financial documents for the project. As a result, the Dawei SEZ Management Committee terminated all nine initial project contracts (2015) signed with the Italian-Thai company by sending the letter of notification on 30 December last year about the termination of all contracts.—MNA (Translated by Maung Maung Swe)

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