Toyo-Thai signs $2.8 bln deal to build power plant in Myanmar

Construction News Myanmar

BANGKOK, April 9 (Reuters) – Construction firm Toyo-Thai Corp PCL has signed a memorandum with Myanmar’s government worth a total $2.8 billion to build and operate a 1,280 megawatt power plant, the Thai company said on Thursday.

The construction contract for the coal-fired plant, at Ye Township, Mon state, is worth an estimated $2.3 billion, the Thai firm said in a statement.

Funding will be 75 percent debt and the rest from equity, it said.

Under the 30-year concession, it is expected to import about 4 million tonnes of coal a year to supply the power plant. Construction is expected to take about four to six years. (Reporting by Khettiya Jittapong; Editing by Ruth Pitchford)