Sembcorp Myanmar Contact

Somkorp Myanmar Contact

The Sembcorp Industries (Sembcorp) is delighted to announce that its wholly-owned affiliate Sembcorp Utilities has today entered into a Memorandum of Understanding with the Department of Electric Energy Planning (DEPP) of the Ministry of Electric Energy of Myanmar (MOEP) to finance and design an investment in a 225 MW CCGT in the city. The Sembcorp Industries (Sembcorp) is delighted to announce that its wholly-owned affiliate Sembcorp Utilities has today entered into a Memorandum of Understanding with the Department of Electric Energy Planning (DEPP) of the Ministry of Electric Energy of Myanmar (MOEP) to finance and design an investment in a 225 MW CCGT in the city.

Signatories to the deal were Tan Cheng Guan, Executive Vice President & Head of Group Business Development & Commercial of Sembcorp Industries, and U Khin Maung Win, CEO of DEPP, in the company's offices in Myanmar. Sembcorp' s signature of the MOU follows the contract for the development and operation of the facility in April this year.

Situated in the Mandalay Division's Myingyan Districts, the Mandalay CHP will be the biggest self-contained natural-gas-fired plant in Myanmar. By using the most effective technology, the system will be able to maximize performance while minimizing emission. Once it is complete, the new system will help to reduce the country's serious electricity shortfall.

Following an MEPE ( "Myanma Electric Power Enterprise") department's bid, the Build-Operate-Transfer program was selected by the MOEP and consulted by the World Bank Group's IFC. While Sembcorp will have an 80% share in this venture, its affiliate MMID Utilities will own the other 20%.

Completion of the PEPE is scheduled for 2018 and will provide MEPE with MOEP as a guarantor for MEPE's PPA commitments under a 22-year-PPA. The Myingyan Energy Corporation, Sembcorp Myingyan Energy Corporation, was established in Myanmar to develop this initiative. Approximately US$ 300 million of the overall capital expenditure is to be financed by a mixture of restricted funding and shareholders' capital.

We expect the first half of 2016 to see the project's annual finance close. 2. The signature of the Memorandum of Understanding is not anticipated to have a significant effect on Sembcorp Industries' net income per common stock and net assets value per common stock for the year ended December 31, 2015. If you have any questions from the press or analysts, please contact

The Sembcorp Industries Group is a major player in the fields of electricity, hydro and shipping, with operations on five major global contiguous... Sembcorp is a reliable supplier of key systems for the supply of electricity and wastewater to industry and municipalities with plants with a total output of almost 8,800 MW and over nine million m3 of groundwater per working and developing year.

In addition, it is a global market and market leadership in naval and off-shore technology and an acknowledged trademark in the city.

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