Myanmar Port Authority and Italian-Thai Development Public Company have signed an agreement to build a Dawei deepsea port and related infrastructure in Thailand.

The Italian-Thai Development Public Company is seeking appropriate partners for the implementation of the $13bn project, which also includes the construction of a road and rail link.

A total of 25 vessels ranging from 20,000t to 50,000t will be able to berth at 22 wharves simultaneously, and 100 million tons of goods will be handled a year.

The project is expected to be completed in ten years in three phases and will be carried out under a build-operate-transfer system for 60 years.

Anew Kyaukphyu deepsea port in Myanmar is also planned to be built on Maday Island to serve as a transit trade centre for the port cities of Chittagong, Yangon and Calcutta, according to Xinhua.