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Posco Daewoo to invest $94.2 mn for gas well development in Myanmar

Posco Daewoo Corp., the energy development unit of South Korean steelmaker Posco, will develop new subsea wells for stable gas production near its offshore production base in the A-3 block in Myanmar with an investment of $94.2 million. Drilling of three new wells will start in the first quarter of 2020, the company announced Monday. […]

Fixing the tourism industry

The govt wants to lure tourists back to Myanmar. Will its efforts work? The Myanmar tourism industry has suffered from a big drop in tourists due to the unfolding refugee crisis in northern Rakhine. With the number of visitors from the US and Europe declining sharply over the past year, some tour companies and hoteliers […]

POSCO DAEWOO to invest 511.7 bln won in Myanmar gas field

POSCO DAEWOO Corp., the trading-to-energy development unit of steelmaker POSCO, said Thursday it will invest 511.7 billion won ($475 million) in a joint gas field development project in Myanmar. POSCO DAEWOO will head the joint project, in which India’s state-run Oil and Natural Gas Corporation, the Myanmar Oil and Gas Enterprise, Gail (India) Ltd. and […]

South Korea eyes Myanmar investments in manufacturing, infrastructure

South Korea is eyeing expansion opportunities in manufacturing and infrastructure in Myanmar. At the Myanmar-Korea Investment Promotion Seminar in Yangon on Thursday, a delegation of 13 South Korean countries met with officials from the Ministry of Transport and Communication and Ministry of Electricity and Energy (MOEE), seeking opportunities to invest in the two sectors. “We […]

Posco Daewoo to focus on steel, gas and grains

Bolstered by record-high profit last year, Posco Daewoo is on track to start new businesses eyeing on higher profitability, vowing to grow as a general operating company beyond trading. At an investors relations meeting held in Yeouido on Friday, Posco Daewoo CEO Kim Young-sang unveiled plans for structural changes in existing businesses and ways to […]

Kajima takes on $400m urban development project in Myanmar

TOKYO — General contractor Kajima will sign up for a 45 billion yen ($398 million) urban development project in Yangon, building offices, hotels and other facilities in bringing its city planning expertise to Myanmar. A contract with the Ministry of Construction will be inked Saturday. The build-operate-transfer arrangement will give the Japanese company control of […]

Posco Daewoo assigned for deep sea gas exploration in Bay of Bengal

State-owned Petrobangla on Tuesday entered into the final deal with Posco Daewoo International Corporation to award it the deep sea (DS) gas block -12 in the Bay of Bengal for hydrocarbon exploration. Under the deal, the South Korean oil major will invest between $60-120 million in the next five years for conducting 2D and 3D […]

POSCO Daewoo picked as single preferred bidder for Myanmar‘s power plant

Subscribe to our tender alert mailing list Korea’s top trading arm, POSCO Daewoo, was picked as the single preferred bidder for a multimillion dollar project to build a power plant in Myanmar, the company said Sunday. The nation’s biggest steelmaker POSCO’s subsidiary said it won the qualification during an international competitive bid held by Myanmar’s […]