Directorate of Investment and Company Administration (DICA) has approved two foreign investments in power distribution projects15 มีนาคม 2561
Directorate of Investment and Company Administration (DICA) has approved two foreign investment proposals in power distribution; it was announced in a meeting held in early March.
The two proposals include a 10 Megawatt diesel power plant built on the area of 68.25 acres by Southern Myanmar Development Company that will distribute electricity to household in nearby villages in Yay Township, Mon State. Also a 19 Megawatt diesel power plant by i-Land Park Myanmar Limited that will distribute to the business on the area of 7,300 square meters in i-Land Industrial Zone in Bago Region.
“The project in Yay Township will sell electricity to around 10 villages. The project in i-Land Park will sell electricity to the businesses in the industrial zone.” U Than Aung Kyaw, Deputy Director of DICA, said.
Southern Development Company will invest over $2.6 billion and i-Land Park Myanmar Limited will invest $23.18 million, according to DICA.
In the present Fiscal Year, there are only three foreign investments in the power sector including these two proposals. The first one is Chiphwenge hydropower project in Kachin State by a Chinese company with the investment amount of over $242 million.
Southern Myanmar Development Company is a joint venture owned by Singapore, Thailand and Myanmar by 33 percent, 33 percent and 34 percent respectively. i-Land Park Myanmar is also joint venture owned by Singapore and Myanmar by 80 percent and 20 percent respectively, according to DICA.
“These are small scale power projects using diesel engines,” U Lin Htut, Director of DICA, said.
The power sector is the sixth most invested sector with total investment of $362 million this fiscal year.
(Myanmar Business Today: https://www.mmbiztoday.com/articles/dica-approves-two-power-distribution-projects )