Japanese companies Marubeni, Sumitomo Corp. and Mitsui to build a liquefied natural gas-fired power plant in Myanmar
Trading houses Marubeni, Sumitomo Corp. and Mitsui & Co. will build a liquefied natural gas-fired power plant in Myanmar, one of the biggest investments by Japanese companies in the Southeast Asian country, Nikkei Asian Review reported.
The three companies estimate total investment in the project at $1.5 billion to $2 billion. The plant is expected to start operating by 2025 with a capacity equal to about 20% of Myanmar’s existing power plants.
The project marks a win for Japan in a region where China has competed hard for infrastructure deals, the report said.