Hong Kong based company V Power set its investment worth USD $ 500 million in power generation and distribution in Rakhine State and Yangon Region

Hong Kong-based V-Power is set to invest $500 million in power generation and distribution in Kyauk Phyu Township, Rakhine State and Thaketa Township, Yangon Region.
“Their proposal says they will build a power plant as soon as possible, but they have yet to provide a time frame,” said U Thant Sin Lwin, Deputy Director General of the Directorate of Investment and Company Administration (DICA).
The proposed projects include the construction of a $363 million, 400-megawatt power plant by NTIC V Power YG1 Limited and a $140 million, 150-megawatt plant by CNTIC V Power KY3 Limited. Both companies are subsidiaries of V Power Group Holding Limited.
In October, V-Power won the bidding for four of five power production projects intended to solve the problem of summertime blackouts. In addition to the above-mentioned projects in Rakhine State and Yangon Region, the company won contracts for a 350-megawatt plant in Thanlyin Township, Yangon and a 20-megawatt plant in Kyun Chaung Township, Magway Region.
V-Power has also won the project to build a 90-megawatt power plant in Myint Gyan Township.
According to DICA data, Myanmar has received over $1.3 billion in foreign direct investment in the first two months of the 2020 fiscal year.

(Myanmar Business Today: https://mmbiztoday.com/hk-company-to-invest-500-million-in-rakhine-yangon-power-plants/ )

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