Investments from China and Hong Kong in power generation projects in Myanmar have hit a total of almost US$800 million (K1.15 trillion) in just over three months.The Directorate of Investment and Company Administration (DICA) announced that, between November 2019 and January this year, that it had approved projects by a joint-venture between China National Technical Import and Export Corp and Hong Kong-listed VPower Group.

The four projects, all by China National Technical Import and Export Corp and Hong VPower Group, are part of the Ministry of Electricity and Energy’s (MOEE) emergency power tenders called in June last year. The four projects are expected to start generating power soon, with the 150 MW plant in Kyaukphyu, Rakhine, expected to start in March. The 350 MW and 400 MW plants in Thanlyin and Tharkayta in Yangon Region, are expected to come online in April and May, respectively. Another project by MCM Power Co, a Myanmar-South Korean joint venture, for a 40 MW gas-fired plant in Bago Region, was approved last month, also under the MOEE’s tenders.

In a project unrelated to the MOEE’s emergency power tenders the Myanmar Investment Commission (MIC) also approved a project last month by Kyaukphyu Electric Power Co, a joint venture between Myanmar’s Supreme Group and China’s state-owned Power China Enterprise. The project is for a 135MW combined cycle gas turbine power plant worth US$173 million in Kyaukphyu, Rakhine.From the start of the current fiscal year 2019-20 on October 1, to January 24 this year, MIC has approved foreign investments totalling US$2 billion.

Source: Myanmar Times

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