Sembcorp inks build-operate-transfer agreement for Myanmar power plant
Total cost of the 225MW Sembcorp Myingyan gas-fired power plant in Mandalay is about US$300m
Singapore
SEMBCORP Industries on Wednesday announced the signing of a build-operate-transfer (BOT) agreement with Myanmar's Ministry of Electricity and Energy (MOEE) for its upcoming 225-megawatt Sembcorp Myingyan gas-fired power plant in Mandalay.
Sembcorp had said in 2015 that its wholly owned unit, Sembcorp Utilities, had won the contract to develop the plant. In March 2016, it announced the signing of a long-term power-purchase agreement with Myanmar Electric Power Enterprise (MEPE) for the sale of the plant's entire power output to Electric Power Generation Enterprise, the successor entity to MEPE pursuant to re-organisation in the MOEE.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Frasers Property H1 profit slides 81% on property value losses, lower residential contributions
US bill to restrict WuXi AppTec, Chinese biotechs revised to give more time to cut ties
Barclays cuts jobs in energy transition team it only just built
UMS Holdings Q1 net profit drops 44% to S$9.8 million
SIA Engineering H2 profit rises 11.5% to S$37.8 million on robust aviation MRO demand
Great Eastern shares jump 39% as OCBC mounts S$1.4 billion privatisation bid at S$25.60 per share