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Japanese loan to fund small power plants for Thilawa SEZ

Two power plants with a generating capacity of 50 Megawatts will be built with Japanese aid to provide electricity around the clock for Thilawa, following talks with bosses of the Special Economic Zone on August 14.

Construction goes on in section A of Thilawa Special Economic Zone. (Nilar/EMG)

Two power plants with a generating capacity of 50 Megawatts will be built with Japanese aid to provide electricity around the clock for Thilawa, following talks with bosses of the Special Economic Zone on August 14.

The power plants will be funded with a Japanese loan with a 0.01-per-cent interest rate to supply electricity for 49 industries in Thilawa SEZ.

“The Japanese will give both low-interest credit and technology. We’ll also get help from the Energy Ministry,” Win Aung, the chairperson of Myanmar Thilawa SEZ Holdings, said.

Electricity consumption at Thilawa is expected to be 10-20 Megawatts (MW) in 2015, but tipped to rise to 60-90 MW in 2018 and 160-225 MW by 2020, according to Sett Aung, chairperson of Thilawa SEZ’s management committee.

“This project is a Japan-Myanmar joint venture,” Sett Aung said. “That’s why we have a financial loan for building infrastructure. The interest rate is low and we have 40 years to repay the loan. The power plants will have sufficient capacity to supply the energy needed for the zone.”

The Thilawa SEZ is located in Thanlyin and Kyauktan townships, 20 kilometres southeast of Yangon.

It has two sections – A, for car and electronic industries, and B for garment factories and foodstuffs.

Source: ELEVEN MYANMAR

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