Yangon receives ADB loan to improve water supply system

The Asian Development Bank (ADB) has approved a US$180 million loan to develop and upgrade the water supply system in Yangon. This comes after the Yangon City Development Committee (YCDC) applied for funds under the Cities Development Initiative for Asia (CDIA) for the Yangon City Water Resilience Project. The CDIA is an ADB-backed fund assisting […]

Yangon Broom raises funding led by Yangon Capital Partners to launch mobile app, training school

Yangon Broom, a Myanmar-based company, today announced that it has raised an undisclosed third funding round led by Yangon Capital Partners, the investment arm of a financial advisory company Trust Venture Partners. Other backers include existing investors such as Emerging Markets Entrepreneurs (EME) and NestTechVN, who had previously invested a five-figure funding round in the […]

SolarHome bags more funding to expand into Myanmar, Indonesia and Cambodia

SolarHome, an off-grid solar firm focused on Southeast Asia, has raised US$5 million to date, having recently closed a US$1 million convertible note offering with impact venture capital firm Insitor Impact Asia Fund. The new funding will help SolarHome to extend its network of hubs throughout Myanmar, offer more products and expand into Indonesia and […]

Asia AVA Gas to build LPG facilities in Yangon

Asia AVA Gas Company has entered into a joint venture with Myanma Petrochemical Enterprise (MPE), which falls under the remit of the Ministry of Electricity and Energy (MOEE) to undertake a project enabling the import, storage and distribution of liquefied petroleum gas (LPG) in Myanmar, Daw Yin Yin Aung, deputy director of MPE, told The […]

Govt Greenlights Electricity Joint Ventures in Mon State, Bago Region

YANGON — The Myanmar Investment Commission (MIC) has granted permission to two joint ventures involving foreign partners to supply power to areas not connected to the national grid. “One is for households in Ye Township, and the other is for the developer of an industrial zone in Bago,” said U Than Aung Kyaw, deputy director-general […]

India explores “cheap power” sales to neighbours

India is exploring selling “cheap power” to its South Asian neighbours and Myanmar on a long-term basis and wants state utility NTPCBSE -0.92 % to expand overseas, its power minister said on Tuesday. Indian companies such as Reliance PowerBSE 1.98 % Ltd and Adani Power Ltd have already signed agreements to supply power to Bangladesh, […]

Electricity price hike set for April 1

In an effort to reduce state spending, the Pyidaungsu Hluttaw last week voted to move forward with a plan to increase the price of electricity as of April 1 for households by as much as 42.8 percent for units used over a certain threshold, parliament announced last week. Though households will still pay K35 per […]