Dawei Port Project Stalled: Thai Minister

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Development of the Thai-backed Dawei deep-sea port project in southern Burma has stalled due to planning uncertainties and conflicts with potential investors, Thailand’s transport minister said on Monday. Chadchat Sittipunt, who also heads a sub-committee on project, said it is being held back by the need for further studies and difficulties getting Japan on board as a major investor, according to a report by The Bangkok Post. Burma and Thailand signed a Memorandum of Understanding in 2008 to develop the site, but are still seeking the estimated US $80 billion needed to finance the project.