ITD seeks Japanese financing for Dawei project

Italian-Thai Development Plc's president Premchai Karnasuta is scheduled to go to Japan during July 16-17, to seek financial assistance for the company's development in Dawei, Myanmar.

Somjet Tinnapong, managing director of Dawei Development Co Ltd - a subsidiary of ITD established to handle the development, told reporters today that during the trip, Premchai will discuss with Japanese financial institutions for the financing.

Somjetn noted that the first phase of the mega project will require an investment of Bt300 billion. It is slated for completion within 2016.

It was reported earlier that Japan International Cooperation Agency and Asian Development Bank showed interest in financing the infrastructure parts of the project.