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UOB to finance Myanmar power project

It signs deal with Asiatech Energy for the US$170m plant

Published Mon, Sep 15, 2014 · 04:09 AM
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UNITED Overseas Bank (UOB) is stepping up its business in Myanmar, focusing on financing infrastructural projects.

Yesterday, UOB signed a financing agreement with Singapore company Asiatech Energy to build a combined-cycle gas-fired power plant in Mon state in Myanmar.

The project is worth US$170 million, though UOB did not disclose the loan amount to Asiatech Energy, which was commissioned to build the power plant in Mawlamyaing township by Myanmar Lighting IPP Co Ltd (MLC).

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