Sembcorp takes another step on Myingyan project

Singaporean energy firm Sembcorp signed a build-operate-transfer agreement with Myanmar’s energy ministry on January 18 for the Myingyan power plant, a high profile energy project expected to receive loans from a variety of international lenders. Tan Cheng Guan, Sembcorp Industries’ head of group business development and commercial, signed the BOT agreement with U Htein Lwin, permanent secretary at Myanmar’s Ministry of Electricity and Energy. The 225-megawatt gas-fired plant is the country’s power project to be awarded through an international-standard bidding process, which was held by the previous administration back in April 2015. Tender winner Sembcorp then received Myanmar Investment Commission approval in early 2016 and signed a power purchase agreement in March that year shortly before the new government took power.

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