With today's inclusion of Japan in the SPV, the Dawei projects will go ahead in full scale," Somkid said.
Construction of the first phase of the project will cost an estimated US$1.7 billion (Bt55 billion) and involve a 27-square-kilometre industrial estate and a 138km two-lane road between the SEZ in Myanmar's Tanintharyi region and the Phunumron checkpoint in Kanchanaburi.
The first phase includes a township for workers, a liquefied-natural-gas terminal, a telecom landline, a power plant, a small port and a reservoir.
Construction is expected to begin in the first quarter of 2016.
The environmental impact assessment, land expropriation, and the third-party inspection processes are on schedule, said Porametee Vimolsiri, secretary-general of Thailand's National Economic and Social Development Board.
Italian-Thai Development, which got the initial concession for the first phase of the project, is required to finish construction within five years.
ITD's consultants said there were 78 Thai and foreign companies interested in investing in Dawei.