The Italian-Thai Development (ITD) Co aims to bid for projects worth $2 billion in the first phase of the Dawei Special Economic Zone project in Myanmar this year.
The company transferred responsibility for the project to the Thai and Myanmar governments earlier this year citing difficulties in managing the project’s financial aspects.
President and chief executive officer Pleamchai Kannasutra Premchai Kannasut told a shareholders meeting that the company would enter a joint venture with Rojana Industrial Estate to bid for development of an industrial estate in Dawei, Thai media reported.
Italian-Thai is also interested in bidding on the second and the third phases of the project next year, the reports said.
The company will now focus on three businesses: construction, infrastructure projects and mining, it said.