Thailand-based construction firm Italian-Thai Development is planning to construct a liquefied natural gas (LNG) import terminal at Dawei industrial zone Myanmar, with an investment of $500m says a news story in the Reuters.
A press release from Roland Berger, who are consultants to the project, says that the LNG terminal is part of the first phase of the $1.7bn Dawei project. It will be designed with an annual capacity of six million tons.
The initial phase development involves the construction of a small port, power plants, a two-lane road to Thailand, and an LNG terminal.
Japan, Thailand and Myanmar recently signed a Memorandum of Intent (MoI) to build the Dawei Special Economic Zone in Myanmar as part of the “New Tokyo Strategy 2015 for Mekong-Japan Cooperation,” adopted during the Seventh Mekong-Japan Summit on July 4.
The LNG terminal, which is subject to an environment impact assessment approval, will be backed by the World Bank and its private sector investment unit, the International Finance (IFC).
Italian-Thai Development president Premchai Karnasuta was quoted by Reuters as saying that Thai energy firm PTT and Royal Dutch Shell will each import three million tons of LNG a year.
The Dawei Special Economic Zone Development will include a deep-sea port with a capacity to hold 250 million tons of cargo, surrounded by an economic zone covering some 200 square kilometers.
The Dawei Special Economic Zone, Italian-Thai and its partners have signed concession agreements for first phase of the Dawei project, which includes a 450MW gas-fired power plant, small port, and a two-lane road to Thailand.