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Myanmar Crisis

Thailand's Amata halts $1bn Myanmar property project after coup

Developer worried about sanctions while Suzuki and ANA suspend operations

Thailand's Amata is developing a major industrial complex outside Yangon, Myanmar's biggest city. (Conceptual drawing courtesy of Amata)

BANGKOK/TOKYO -- Thailand's largest industrial estate developer has suspended work on a $1 billion project in Myanmar due to fears that the military coup and possible international sanctions will drive investors away from the country.

Amata had just begun construction on the 2,000-acre industrial complex outside Yangon in December but the development, including a new power plant, will be put on hold, chief marketing officer Viboon Kromadit told reporters on Tuesday.

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