Sembcorp Industries’ subsidiary Sembcorp Myingyan Power Company has signed a build-operate-transfer (BOT) agreement with the Ministry of Electricity and Energy of Myanmar (MOEE) for its $300M gas-fired power plant in Mandalay, Myanmar.
The company will build and operate the 225MW power plant for 22 years, after which the plant will be transferred to the government of Myanmar.
Last March, the company announced a long-term power purchase agreement to sell the facility’s power output to Electric Power Generation Enterprise (EPGE).
Sembcorp Group president and CEO Tang Kin Fei said: “The signing of the BOT Agreement marks an important milestone for the Myingyan project.
“We thank the government of Myanmar for its support, and we are encouraged by its commitment to accelerate infrastructure development in the country.”
* Data provided by Timetric's Construction Intelligence Center.
* Image: U Htein Lwin, permanent secretary of the Ministry of Electricity and Energy of Myanmar (right) with Tan Cheng Guan, Sembcorp Industries’ executive vice president & head of group business development & commercial. Credit: Sembcorp Industries.