A consortium of Myanmar and Japanese companies will construct an electricity generation plant and liquefied natural gas (LNG) terminal at the Thilawa Special Economic Zone, said U Han Thaw Zay, Executive Director of Myanmar Agribusiness Public Corporation (MAPCO), one of the firms involved in the investment.
The LNG-fuelled plant will have the capacity to generate 1250 megawatts of electricity, while the LNG terminal is expected to facilitate the production of electricity on floating units. The terminal will be built on space previously earmarked for warehouses and the trading of crops.
The LNG used will be purchased and imported from Singapore, Malaysia and Indonesia.
The Myanmar companies involved include MAPCO, Eden Group, Myanmar Edible Oil Industrial Public Corporation Limited and Myanmar Agriculture and General Development Public Limited. The firms will work with Marubeni, Sumitomo and Mitsui from the Japan side to jointly implement the $2 billion projects.
U Han Thaw Zay said the projects will commence after a Notice to Proceed is signed next year. Construction is expected begin in March 2020 and take 30 months to complete.
The projects will be implemented under a 25-year Build, Operate and Transfer system.