Myanmar has signed a memorandum of understanding (MoU) with South Korea to build a 500-megawatt power plant which will use natural gas and garbage to generate power.
The signing ceremony was held between
Myanmar's Hexa International Company and Korea Western Power jointly
with Korea Electrical Manufacturers Association on September 3 at Sedona
Hotel in Yangon. The power plant will be built in Thakayta Township in
Yangon Region.
"This is the first 100% foreign direct
investment project which will build the first and biggest power plant of
that kind in Myanmar," said Aung Than Oo, the deputy minister for
electrical power.
Dr. Sone Han, the chairman for the Hexa said his company will join as a local partner in the project.
The power plant will provide electricity
to Thilawa Special Economic Zone mainly and the first phase of the
project is expected to be completed in 2014 after final agreement is
reached between the two countries in this year.
Korea Western Power, a subsidiary of
Korea Electric Power Corporation operates power plants in India,
Indonesia, Laos, Russia and the US.
source: Eleven Myanmar
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