Korean loan comes for power lines

The Ministry of Electric Power has signed an agreement with Korea’s Export Import Bank for a US$100 million loan to fund a 500-kilovolt transmission line. The project is the first to receive funding from South Korea’s Economic Development Cooperation Fund during the period of the civilian government, though there had previously been several planned projects […]

PTTEP to invest $3.3b in oil and gas projects

State-owned Thai oil firm PTT Exploration and Production Plc (PTTEP) will spend US$3.3 billion over the next five years to develop gas projects throughout Myanmar, company executives announced last week. The firm, one of Thailand’s largest, currently has funds in seven oil and gas projects in the country and plans in part to use its […]

ADB to Loan $60 Million for Myanmar’s Electricity Network

YANGON — In a push to develop Myanmar’s national power grid, the Asian Development Bank (ADB) has offered a US$60 million loan to improve access to electricity in four divisions. Some 480,000 households in Yangon, Mandalay, Sagaing and Magway divisions will see access to a more reliable electricity supply through the loan, ADB said Monday. […]