Sri Lanka Approves LNG Plant Near Chinese-controlled Port
Sri Lanka's state-run investment body has approved a $500 million liquefied natural gas plant by China Machinery Engineering Corp near a Chinese-controlled port and industrial zone, the development strategies minister said on Friday.The state-run Board of Investment has approved investment projects worth $1 billion in the first quarter, Malik Samarawickrama said, the largest of which was the LNG project in Hambantota, where China Merchants Port Holdings controls a Chinese-built port on a 99-year lease.The port, which is leased for $1.12 billion, is near the main shipping route from Asia to Europe and likely to play a major role in China’s "belt and road" initiativeChinese control of Hambantota…
Dawei, Burma, Deep Sea Port Offers Investment Opportunities
Thailand's Board of Investment (BOI) says the joint deep sea port will also surge new business & foreign investment into Thailand. BOI believe that the Dawei Deep Sea Port and Industrial Estate in Myanmar (Burma) will become an important drive for economic growth in this region, offering a shortcut for logistics and bringing new business opportunities and foreign investment to Thailand. After conclusion on signing of Memorandum of Understand between Thailand and Myanmar to construct Dawei Deep Sea Port…
NWC Board Supports Investment Strategy
The Board of Directors of the National Waterways Conference voted to support the draft Inland Marine Transportation System Capital Investment Strategy endorsed by the Inland Waterways Users Board at its meeting in New Orleans on December 15, 2009. The unanimous vote signals the Board’s recognition of the urgent need for adequate funding for our nation’s water resources infrastructure. Developed over the course of the past year under the auspices of the Inland Waterways Users Board, the Strategy is the culmination of a collaborative effort by the U.S. Army Corps of Engineers and industry representatives to develop a comprehensive funding and investment plan for construction and major rehabilitation projects along the 12,000 mile system of inland waterways.
Thailand’s Shipbuilding Plan to be Discussed
Thailand’s shipping agencies and the private sector plan to meet by the middle of next month to work out an action plan to develop and promote shipbuilding in Thailand. The Bangkok Post reported that the Industry Ministry had drawn up an action plan, but proposals needed to be substantiated. The National Economic and Social Development Board (NESDB) proposes that the Board of Investment (BoI) promote shipbuilding in Thailand, namely ships between 5,000 tons and 100,000 tons, and grants the industry special status, so it can enjoy the greatest promotional privileges. These include tax breaks of up to eight years and exemption from import duty on machinery.
Thai Prime Minister Denies Canal Reports
Thai Prime Minister Chuan Leekpai has denied reports the government plans to build a canal across southern Thailand, bypassing the busy Malacca Straits shipping lane, as reported in last week's Maritime Week. He said that while the idea is still being studied, the construction of a canal is not a simple issue and no decision has been made. If the study found it feasible to construct the canal, the country might build it, he said. It is estimated that the project would cost about $21.2 billion and take six years to complete. Proponents of the canal claim it would bring huge economic benefits and could threaten Singapore's position as the region's leading port.
