Puma pounces on Thilawa port

The firm selected to build Thilawa SEZ harbour and oil tanks has applied to the Myanmar Investment Commission, expecting to receive its license in the next few months, Puma chief operations officer Robert Jones said.

Work on the project is set to begin shortly after receiving the licence. It is 80 percent owned by Puma Energy and 20pc by local partner Asian Sun, and set for a mid-2015 completion.

The harbour will include a jetty capable of handling medium-sized vessels and a storage facility capable of holding 88,000 cubic metres of bitumen and other petroleum products.

Puma, a Singapore-based mid- and downstream energy company, is also mulling entering the retail business, Mr Jones told The Myanmar Times in Singapore on April 25.

“There are not enough service stations and retail stations to meet demand,” he said. “It will be a very interesting business.”

Puma Energy plans to eventually establish up to 150 retail sites for petroleum products around Myanmar. Puma is the first foreign company granted permission to develop oil storage facilities in Myanmar, and was selected to build the Thilawa facilities through a tender process in mid-2013.

Source: Myanmar Times

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