A hydropower station first conceived in 2003 will require a further four years of work, costing an estimated K230 billion more, parliament heard on May 18.
Deputy Minister for Electrical Power U Aung Than Oo told Amyotha Hluttaw that the Thahtay hydropower project on Thahtay Creek, 20 kilometres (12 miles) northeast of Thandwe in Rakhine State, would need another K60 billion for the current financial year alone.
The project started in the 2003-04 financial year. According to the government, the project requires K59.813 billion for 2015-16, K58 billion for 2016-17, K45 billion for 2017-18 and K67 billion for 2018-19.
“To accomplish the project in the fixed period of the 2018-19 financial year, a further K230.524 billion is needed to fund the remaining 62.08 percent of the project,” U Aung Than Oo said.
“We are negotiating with the ministry concerned to buy the main construction materials, such as cement, diesel fuel and steel rods,” said the deputy minister.
He added that the department planned to invite tenders from private companies for any additional materials required for the project, which has been run by IGE – a conglomerate owned by the sons of former Minister for Industry U Aung Thaung, now a parliamentarian – since 2009-10.
The Department of Hydropower Implementation and China Gezhouba Group have signed to import mechanical and electrical appliances and related materials for the power station for the project by using a loan from EXIM Bank.
The Thahtay hydropower project is expected to generate 386 million kilowatt hours of electricity at a total cost of K354.6 billion. – Pyae Thet Phyo.
Source: Myanmar Times