A major infrastructure project involving the development of the Dawei deep seaport and special economic zone may be in jeopardy, said an informed source, citing the lack of financial transaction going into the constructions of the project.
The budget for the construction of the
project was set at US$8 billion. But two years have been passed and the
project has used up only US$52 million, the source said.
The project, implemented by Italian-Thai Development (IDP) has imported construction tools and machineries since January 2011.
Although the company has spent on tools
and machineries for project, no one knows the company's actual amount on
investment. There was no transparency. It is believed that the company
is in financial difficulty, the source said.
The construction tools and machineries
have been imported via Nabule and Htikhi border trade centers in last
year. This year they were imported through Nabule border trade center.
More than $16 million of import were
through Htikhi and Nabule border trade centers last fiscal year. The IDP
imported more than US$36 million construction tools and machinery
through Nabule according to the report of Border Trade Department.
The company is seeking Japanese
investors as partners to keep going the project. However, the project
was delayed for two years already due to lack of fund.
Myanmar and Thai governments are funding the project to be accomplished.
source: Eleven Myanmar
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