Sagaing Region government is signed MoUs to produce electricity from biomass and sugar in the region during Invest Myanmar Summit 2019 held at Nay Pyi Taw, sources said.
“We signed a first phase of project which worth US$200 million to produce sugar. The overall project will cost US$350 million. It will be a joint-ventured business between Great Wall Foodstuff Industry Company Limited (Myanmar) and Hong Kong International Sugar Engineering Co. Ltd. (China, Yunnan State),” said an official from the regional government.
“Investors from local and overseas, who came to attend the summit, can analyze the projects at the summit and they can know easily about the projects,” said Zaw Min Win, Chairman of the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI).
The projects will be developed in Kathar Township.
“We want to invite investors to make investment in the region. We will help them as much as we can,” said Dr Myint Naing, Chief Minister of the region.
Source: Daily Eleven