Thai Firm Says May Cut Stake in Myanmar Dam Project

Source: Agence France-Presse via Google News

Thai energy firm MDX Group said Tuesday it was considering reducing its stake in a controversial hydro-power dam project in Myanmar, the biggest in the military-run country.

"We are looking for a business partner to go ahead with the project, and we are considering reducing our stake," an official from MDX said on condition of anonymity.

MDX has invested about six billion dollars in the Tasang dam project in eastern Shan State. It is to be built on the Salween River, the longest undammed river in Southeast Asia.

The Thai company has held an 85 percent stake in the project with the rest owned by Myanmar's military government, which is under global pressure over its deadly repression of pro-democracy protests in Yangon in September.

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