Memorandum of Understanding between Marubeni & Ministry of Electric Power of the Republic of the Union of Myanmar Thursday, May 28, 2015
Marubeni Corporation (“Marubeni”) has agreed with the Ministry of Electric Power of the Republic of the Union of Myanmar (“MOEP”) to conduct a feasibility study for a gas-fired power generation project in Yangon region, Myanmar, and entered into a Memorandum of Understanding with MOEP for the development of this project on May 27, 2015.
This project is to construct a gas-fired power plant (400MW) in the Thanlyin district, located in the Yangon region in the central part of Myanmar, to supply reliable electricity to Myanmar, focused on the Yangon region. This project will be the largest gas-fired power plant in Myanmar. Marubeni will form a consortium with Global Power Synergy Public Company Limited (Thailand) and Eden Group Company Limited (Myanmar) to conduct the feasibility study.
Installing new power generation capacity is an urgent issue in Myanmar because of its rapidly increasing electricity demand due to recent economic growth. Especially, in the Yangon region, which is the largest commercial region in Myanmar, the shortage of electricity will increase in severity due to the entry of many companies and factories.
In Myanmar, Marubeni has experience in constructing hydropower plants and thermal power plants, and also conducting the feasibility study of a coal-fired power project. Marubeni will aim to supply more reliable electricity to Myanmar, focused on the Yangon region by realizing this project utilizing its know-how and power generation project experience.