Myanmar and Thailand on Wednesday agreed to make progress for the development of the Dawei Special Economic Zone (SEZ) in southern part of the country's Taninthayi region, said the press release issued at the joint high- level committee meeting held in Nay Pyi Taw.

The Dawei SEZ covering an area of over 200 square-kilometer will be implemented in two parts -- the Initial Phase Development and the long-term master plan of the SEZ.

Co-chaired by Myanmar Vice President U Nyan Tun and Thai Deputy Prime Minister Pridiyathorn Devakula, the 4th meeting of Myanmar- Thailand Joint High-Level Committee Meeting on comprehensive development of the Dawei SEZ was held in Nay Pyi Taw on Wednesday.

During the meeting, the Initial Phase Development concession agreements were signed between the Dawei SEZ management committee and a consortium of developers.

The initial phase development consists of industrial estate, power plants, LNG terminal, initial township, small port, water reservoir, two-lane road to Thailand and telecom landline, the release said, adding that it is expected to be completed in eight years.

Source:Xinhuanet