Italian-Thai Development to Build LNG Terminal in Myanmar

Thailand's Italian-Thai Development PCL will build a $500 million liquefied natural gas (LNG) import terminal at Dawei industrial zone in southern Myanmar, Myanmar Times reported Friday.

The LNG terminal is part of the Dawei special economic zone which includes a small port, power plants, a two-lane road to Thailand, an initial township, a telecom landline and an industrial estate focusing on labor-intensive industries.

On Wednesday, Myanmar signed a concession agreement with a consortium of private developers, including Italian-Thai Development (ITD) Public Company, for the Dawei special economic zone (SEZ) almost two years after ITD withdrew from the project citing financial difficulties, the newspaper reported.

The World Bank and its private sector investment arm, the International Finance Corporation, will provide loans for the LNG terminal, which will have annual capacity of 6 million tons, news agency Reuters reported in a separate report.

Japanese-Thai joint venture Rojana Industrial Park Public Company and LNG Plus International Company, also from Thailand will partner Italian-Thai Development in the project.