IFC to finance $40m Myanmar-based gas turbine project by Sembcorp, MMID

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Visual from Sembcorp website

The International Finance Corporation (IFC) is planning to invest $40 million in 225 megawatt combined cycle gas turbine power plant at Mandalay.

The investment will be in form of debt financing for the power plant, which will be built by a consortium of companies including, the Singapore-based Sembcorp Utilities Pte Ltd and MMID Utilities Pte Ltd, according to the project details stated at the website of IFC.

The project is expected to start in the first quarter of 2016 and will take 22 months for completion. The power plant will be connected to the Myingyan Steel Mill sub-station and planned to start its commercial operation by the first quarter of 2018, the IFC stated.

The 225 MW power plant will include two sets of Gas turbine units, two sets of heat recovery steam generator, one steam turbine generating unit, a switchyard area, cooling water system, demineralized water system and a waste water treatment.

Local companies like Delight Engineering Co Ltd, Shwe Taung, Ah Yone Oo Construction Co Ltd and Myanmar light Co Ltd have submitted a proposal to work as a sub-contractor for the construction of the project, said U Aung Myat Kyaw, secretary of Myanmar Geosciences Society.

He said the proposals by the company were submitted in June.

“The gas used for the power plant will be from the Shwe gas field that is transported to China and is through part of a portion that Myanmar gas as an agreement with China,” he said.

The project facilities will occupy about 11.6 hectares and the project site will be situated within a larger 280-hectare government owned and operated steel mill site.

 

Source: http://www.dealstreetasia.com/stories/ifc-to-finance-40m-myanmar-based-gas-turbine-project-by-sembcorp-mmid-15036/