The Mandalay parliament on Monday approved more than K12 billion (US$7.96 million) to fund the electrification of 288 villages in Thazi, Myingyan, Pyawbwe, Yamethin and Meiktila townships.
The power will be supplied to the villages through the private finance initiative (PFI) system.
“The private sector will finance the project initially and then it will be handed over to the government. The expenses will be repaid to the private investors under a fixed year contract,” said U Min Aung, MP for Myitthar constituency 1.
Based on the agreement, payments will be made by the regional government over three years – K4 billion in 2018-19, over K7.3 billion in 2019-20, and over K1.2 billion in 2020-21.
The Mandalay government hopes to electrify more than 4700 villages by the 2022-23 budget year.
Source: Myanmar Times
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