Minister: No word from Thailand yet on Kra Canal

Tuesday, 14 Nov 2017


KUALA LUMPUR: Malaysia will use the Association of South-East Asian Nations (Asean) bloc to hold talks with Thailand if it decides to go ahead with the Kra Canal project.

Deputy Minister in the Prime Minister's Department Senator Datuk Seri S.K. Devamany (pic) said Thailand has no interest in building the canal said to be linked to China’s One Belt One Road and Maritime Silk Route initiatives.

“Thailand has not made any decision and recently said it is not interested in building the canal,” he said wile answering a question by Datuk Seri Dr Irmohizam Ibrahim (BN-Kuala Selangor) in the Dewan Rakyat on Tuesday.

He said the proposal was never raised or discussed by Thailand within Asean.

However, Malaysia will resort to Asean and other regional economic pacts to hold talks with Thailand if the project does eventually take off.

In September, Thailand’s Ambassador to Kuala Lumpur Damrong Kraikruan said the Kra Canal was not a viable project.

He said the area did not have deep sea port capabilities, and it could not get the banking and finance support.

Interest in the canal was rekindled by a Nikkei Asian Review report months ago, which said that the Chinese may kick-start the RM100bil project.

The proposed 135km shipping canal across Thailand’s narrow Isthmus of Kra would link the Pacific and Indian oceans by bypassing the Straits of Malacca, the world’s busiest maritime trade route.

Link : https://www.thestar.com.my/news/nation/2017/11/14/minister-no-word-from-thailand-yet-on-kra-canal

Comments

Post a Comment

Popular posts from this blog

Gold Bars Fight Covid Kits for Space on the Plane

Image
Before the health crisis, gold typically traveled around the world on commercial flights. Swiss refiner Valcambi SA tried for five straight days last month to move a shipment of gold out of Hong Kong. Twice the metal was packed carefully onto a plane, only to be offloaded again. After daily attempts and numerous arguments, the gold suddenly arrived in Switzerland without warning, said Chief Executive Officer Michael Mesaric. “We had not even asked for a slot.” The coronavirus crisis has shone a light on a corner of precious metals markets that usually draws little attention: the logistics of transporting gold, silver and other metals across the world. The business is dominated by companies including Brink’s Co., G4S Plc, Loomis AB and Malca-Amit, which link miners and refiners with gold trading and consumption hubs around the world. In normal times, gold bars worth millions of dollars travel the world in the cargo holds of commercial planes, just a few meters from
Read more

US on track to unseat Saudi Arabia as #2 oil producer in the world

Image
© Jim Urquhart / Reuters New forecasts from the International Energy Agency say the United States is on track to overtake Saudi Arabia as the second-largest oil producer in the world, just behind Russia, according to the organization’s report on Friday. "This year promises to be a record-setting one for the US,"  the IEA wrote in its monthly market report.  "Relentless growth should see the US hit historic highs above 10 million barrels per day, overtaking Saudi Arabia and rivaling Russia during the course of 2018 – provided OPEC/non-OPEC restraints remain in place.” OPEC players have been wary of the strength of the American shale market as the nation’s products reach new countries every month. "US growth in 2017 beat all expectations ... as the shale industry bounced back, profiting from cost cuts, (and) stepped up drilling activity,"  the IEA added.  "Explosive growth in the US and substantial gains in Canada and Brazil will far outweigh pot
Read more

Can Anything Stop The Shale Surge?

Image
By  Tom Kool  - Jan 19, 2018, 2:00 PM CST Higher oil prices may lead to huge growth in U.S. shale production, according to revised predictions from both OPEC and the IEA. Friday, January 19, 2018 Oil prices fell back a bit at the end of this week. EIA data shows a rise in U.S. production, but also another strong decline in inventories. Brent is struggling to hold above $70, and benchmark prices await some direction. IEA: Explosive growth in U.S. shale will test oil prices.  The IEA’s latest Oil Market Report paints a mixed picture for prices. Clearly, the market is tightening, the IEA says, but it also says that shale growth will be “explosive” this year. The agency revised up its forecasts growth for U.S production from 870,000 bpd to 1.1 mb/d in 2018. That, combined with gains from other non-OPEC countries, could end the price rally, although the IEA says a lot of uncertainty remains.  Venezuelan oil production plunges by over 200,000 bpd . Venezuela’s Decemb
Read more