Sembcorp Takes Another Step on Myingyan Project

​​ Singaporean energy firm Sembcorp signed a build-operate-transfer (BOT) agreement with Myanmar’s energy ministry yesterday for the Myingyan power plant, a high profile energy project expected to receive loans from a variety of international lenders. Tan Cheng Guan, Sembcorp Industries’ head of group business development and commercial, signed the BOT agreement with U Htein Lwin, […]

Myanmar’s Eden Group sets its sights on affordable housing

Tokyo Eden Group, a Myanmar conglomerate whose businesses range from construction to agriculture and finance, is set to further expand its core construction business as the company looks to provide more residences in the fast-growing country, including affordable units outside cities. “Our country needs to develop so much infrastructure and real estate,” group chairman Chit […]

Chambers of Commerce to suggest economic development in seven sectors

To effectuate the development of local businesses, the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) will give guidance on the needs in seven different sectors — agriculture, construction, energy, manufacturing, tourism, technology and finance, said U Zaw Min Win, the chairman of UMFCCI. The UMFCCI will submit an assessment report in […]

Mizuho Bank and MAX Myanmar inked an MoU for business cooperation

Mizuho Bank and Max Myanmar Holdings signed a memorandum of understanding (MoU) for business cooperation with an aim at facilitating foreign direct investment (FDI) in Myanmar by Japanese companies. Mizuho Bank will be the first Japanese bank to sign an MoU with Max Myanmar. Mizuho has been supporting Japanese companies entering Myanmar. It opened a […]

Turkish Powership Sets Sail

A Turkish-built floating power plant capable of generating 480 megawatts will cross the seas to Myanmar next year to help beat blackouts in the Yangon region. The Karadeniz Powership Onur Sultan was launched in Istanbul on November 13. Karadeniz Holding officials said the vessel – which they called the “world’s largest floating power plant” – […]

Unofficial Tenants Warned to Move off Explosive Gas Pipelines

Several unofficial shanty towns erected around Yangon are at risk of triggering an explosion as they were built above old, unreliable gas pipelines, according to a government official. Shwe Pyi Thar township’s Danyingone Market is considered to be on particularly dangerous turf. Hundreds of makeshift dwellings and shops have popped up above the Shwe Pyi […]

Chinese investors explore Myanmar market with caution

The delegation, organized by China’s Council for Promoting South-South Cooperation, is made up of representatives from 22 companies engaged in businesses such as infrastructure construction, banking, and hydro-power equipment manufacturing. Wang Xuefei with the Zhejiang Communications Construction Group is among the 30 plus business people of the delegation. “We don’t have any projects under construction […]

Rangoon Electricity Tender Awarded to Murky Consortium

RANGOON — A consortium with links to a Burmese company previously on the US blacklist and including an international energy company affiliated with the former US Secretary of State Madeleine Albright will work to alleviate Rangoon’s electricity woes. A consortium led by National Infrastructure Holdings won tender to generate an extra 300 megawatts of electricity for […]

Power plant tender winner to be announced next week

The Ministry of Electricity and Energy will announce the winners of a tender to build a 300-megawatt power plant in Yangon next week, ministry officials said. The tender was issued in July for a five-year contract to supply 300MW of power to Yangon each day – the government’s first tender after taking office in April. Of the […]

China stands as largest investor in Myanmar’s power sector

China has topped the foreign investors line-up of power sector of Myanmar for four months of this fiscal year 2016-2017, official media reported Thursday. China invested in five projects in electric sector worth with 1.3 billion US dollars, followed by Singapore with 570 million US dollars in four projects, according to an official of the […]