MoEE, TPMC company sign power purchase agreement for LNG to Power Project

MINISTRY of Electricity and Energy signed a power purchase agreement in Nay Pyi Taw for the 365 MW LNG to Power Project to be implemented by TTCL Power Myanmar Co., Ltd in Ahlon Power Plant, Yangon Region, yesterday afternoon. Union Minister U Win Khaing, Deputy Ministers U Khin Maung Win and Dr Tun Naing, Permanent Secretary U Than Zaw and departmental officials attended the ceremony. President & CEO for TTCL
Power Myanmar Co., Ltd. Mr Hironobu Iriya, Managing Director Ms Suratana Trinratana and officials, attended the ceremony through videoconferencing. The Union Minister said his Ministry is making efforts
to generate more electricity from all available sources from the country, including imported LNG, as the electricity demand increased.

The Ahlone LNG to Power Combined Cycle Power Plant project, invested by TTCL Co., Ltd is one of the three major projects that the Ministry issued Notice to Proceed (NTP) to companies. The Ahlone LNG project was launched in 2018 and TTCL Co., Ltd carried out the feasibility study, environmental impact assessment, LNG feasibility and gas pipelines, including land ownership for the project during the two-year preparation period. The Union Minister added the coordination with companies and all stakeholders for the PPA contract due to the nature of the project that is different from other conventional projects. According to the schedule in the PPA contract, TTCL Company will need to complete the commercial operation of the project within the next three years. The company has extensive experience in Japan with LNG power generation and the construction of an inland LNG Terminal and Regasification Unit.


The Union Minister said that necessary equipment such as natural gas pipeline and transmission line would be built in Yangon area and the company needs to follow not only international rules and regulations but
MoEE, TPMC company sign power purchase agreement for LNG to Power Project also domestic rules and regulations at all stages of construction and operation. Managing Director for Electric Power Generation Enterprise (EPGE), Ministry of Electricity and Energy U Than Naing Oo and Managing Director for TTCL Power Management Co., Ltd Ms Suratana Trinratana
signed the Power Purchase Agreement (PPA). This is the first long-term
LNG project in Myanmar using inland LNG Terminal and Regasification Unit, and it is a reliable project due to its stable LNG supply. With the use
of Combined Cycle Technology, electricity generation can be improved, and the environmental impacts can be minimized. Upon successful completion of this project, according to the PPA, it will be able to supply and distribute electricity to the Yangon Region, especially to provide more stable electricity.

Source: The Global New Light of Myanmar

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YRIC endorses $12.7 mln worth seven proposals in four months(Oct-Jan)

The Yangon Region Investment Committee (YRIC) has endorsed four foreign enterprises from China, Japan, Singapore and Hong Kong SAR in the manufacturing sector, with an estimated capital of US$12.7 million, in the four months (Oct-Jan) of the current financial year 2020-2021. Additionally, one domestic enterprise is also given the go-ahead, with the capital of K2.9 billion. Those enterprises are to create over 3,700 jobs.

They will execute manufacturing of bags, footwear, underwear and garments on a Cutting, Making, and Packing (CMP) basis and production of pulses and beans, and production and distribution of fish sauce, YRIC stated. Between 1 October and 30 September of the previous financial year 2019-2020, Yangon Region attracted FDI of $308.768 million from 137 foreign enterprises. The manufacturing sector has attracted the most foreign investments in Yangon Region, with enterprises engaging in pharmaceuticals, vehicles, container boxes, and garments on a Cutting, Making, and Packing (CMP) basis.

To date, foreign investments from China, Singapore, Japan, Hong Kong, the Republic of Korea, Viet Nam, India, China (Taipei), Malaysia, the British Virgin Islands, and Seychelles arrive in the region. To simplify the verification of investment projects, the Myanmar Investment Law allows the region and state Investment Committees to grant permissions for local and foreign proposals. The initial investment does not exceed K6 billion, or $5 million.

Source: The Global New Light of Myanmar

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Groundbreaking ceremony of Agricultural Marketing Centre held in Nay Pyi Taw

The groundbreaking ceremony of the Agricultural Marketing Centre was held in Pobbathiri Township, Nay Pyi Taw yesterday morning. The ceremony was attended by the Union Minister for Agriculture, Livestock and Irrigation Dr Aung Thu, Deputy Minister U Hla Kyaw, Nay Pyi Taw Council member U Aye Maung Sein, Amyotha Hluttaw Representative U Maung Maung Swe, Ambassador of the Republic of Korea to Myanmar Mr Lee Sang-hwa, Chief Representative of KOICA Myanmar Ms Lee Youn Soo, the Permanent Secretary, Directors-General of the ministry and other relevant officials.

At the ceremony, Union Minister Dr Aung Thu said that the agricultural sector is a key factor in Myanmar’s economic development process. Establishing the Agricultural Marketing Centre and the Agricultural Products Processing Centre will benefit both agriculturalists and consumers, according to the Union Minister, who said that the cooperation among the government, private sector and agriculturalists is expected to greatly enhance the opportunities to compete in the international market.
During the ceremony, Ambassador Mr Lee Sang-hwa also delivered a congratulatory speech and KOICA Myanmar representative Ms Lee Youn Soo expressed thanks to all stakeholders.

The Agricultural Marketing Centre project, jointly carried out by the Korea International Cooperation Agency (KOICA) and the Ministry of Agriculture, Livestock and Irrigation, was begun in 2018 with US$8.37 million in financial aid from Korea. The Agricultural Marketing Centre will be built in Pobbathiri Township in Nay Pyi Taw and the Agricultural Product Processing Centre will be built in Heho in Shan State. The objective of establishing the two centres is to improve the market for agricultural products in major agricultural production areas, said Director-General Dr Ye Tint Tun. The centres will be able to provide efficient agricultural market information, and another benefit is that the agriculturalists’ organizations will be strengthened. They will help strengthen agricultural infrastructures and will work for issuance of certification. So, the centres will help fulfil the Agriculture Development Strategy (ADS).

Source: The Global New Light of Myanmar