MIC Green-Lights Nga Yoke Kaung Offshore Supply Base

A proposal to construct an offshore supply base for offshore blocks on a 30-acre company-owned land, at Nant Thar Pu village in Nga Yoke Kaung sub-township (Nga Pu Taw township), Pathein, Ayeyarwady Region, has been approved by Myanmar Investment Commission (MIC), Myint & Associates Offshore Supply Base (M&AOSB) said. M&AOSB is a subsidiary of Myint […]

Fuel Storage Terminal with US$92m FDI to Start Operation at Thilawa Port

The first and largest fuel storage terminal in Myanmar, which has involved US$92 million of investment, opened during the first week of May, said officials from Puma Energy Asia Sun (PEAS). The storage terminal will begin operation at Thilawa port in Yangon, and is a joint-venture between Puma Energy and Asia Sun Energy. Puma Energy, […]

President’s Reserve Fund to Ensure Yangon Power Supply

The President’s Reserve Fund will be used to ensure there is sufficient electricity supply in Yangon in the coming summer, Chief Minister U Phyo Min Thein said. He announced this after a meeting among some Union ministers and entrepreneurs at the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) office on April […]

China’s Trans-Myanmar Pipeline to Start Pumping Oil in May

A pipeline pumping crude oil from Myanmar ’s Rakhine coastline into Yunnan Province in China will finally be operational in May after several delays, according to the Thura Swiss market research company based in Yangon. An official from investors Southeast Asia Crude Oil Pipeline (SEAOP) was cited in local and Chinese media reports this week […]

Fiscal Year 2017-18: a New Dawn for Economic Policies

​​ The new fiscal year will start on April 1, which also marks the start of new laws and economic policies for Myanmar. The new Myanmar Investment Law, which was recently passed, will come into effect on April 1 and its implementation and enactment will spell changes for the country’s businesses and investors. A developing […]

Private Sector Encouraged to Help Strengthen Power Generation

​​ Officials from the Ministry of Electricity and Energy have said that there are long-term and short-term projects planned in order to meet growing electricity demand in the country. Myanmar’s demand for electricity has increased annually, but power supply has been insufficient. 6.5 million out of 10 million households have no access to electricity, and […]

Ministry Reportedly Invited Electricity Tender Without Budget Approval

​​ RANGOON — Rangoon residents’ hope for 24-hr access to electricity is fading after the Ministry of Electricity and Energy said that it had no budget for two private electricity suppliers, which last year won a tender to provide electricity for the commercial capital. In 2015, the previous government initiated a plan to deal with […]

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” – […]

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 […]

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 […]