Large French conglomerate Alstom is aiming to set up a representative office in Myanmar, looking to take advantage of opportunities in the country’s hydropower sectors, chairman and CEO Patrick Kron said.
The firm – which was the main supplier for China’s Three Gorges Dam among a number of other Asia projects – plans to open a country representative office in Yangon, eyeing projects in electricity generation and transmission, he said.
“We are coming to Myanmar,” Mr Kron told The Myanmar Times at the launch of its generator factory in Tianjin, China on September 17.
“We are closely monitoring Myanmar and its infrastructure development.”
The firm first began working in Myanmar’s energy sector in 1957.
Alstom also aims to work with international financial institutions such as the World Bank to provide funding for developers and construction companies for the projects. Its products generate 25 percent of the world’s hydropower, and “Myanmar is one market with a lot of potential,” said Alstom executive vice president Jerome Pecresse.
Alstom has developed several hydropower projects in Southeast Asia, and is also making a push to expand in Laos and Myanmar.
The firm has set up a €100 million (US$135 million) generator manufacturing facility in Tianjin, 240 kilometres (149 miles) from Beijing, aiming to take advantage of growth in the Asia Pacific region. The factory will be able to produce up to 26 of the company’s large turbines and generators a year.
Alstom has been in China since 1995 through a 51pc-owned joint venture with a state-owned partner.
source: The Myanmar Times