Sembcorp Myingyan Power CompanyMyingyan Power Company
Myingyan Project Powers Ahead, with signature of the build-operate-transfer agreement with Myanmar's Ministry of Electricity & Power
The Sembcorp Industries (Sembcorp) is delighted to announce the signature of a Build Operating Transport (BOT) contract with the Ministry of Electricity and Energy of Myanmar (MOEE) for its forthcoming 225 MW Sembcorp Myingyan power station in Mandalay. MOEE and Sembcorp Myingyan Power Company were joined by Tan Cheng Guan, Executive Vice President & Head, Group Business Development & Commercial, and U Htein Lwin, Permanent Secretary at MOEE.
As part of the contract, Sembcorp Myingyan Power Company will construct and run the power station for 22 years, after which the power station will be handed over to the Myanmar state. For the Sembcorp Myingyan consortium, the contract is an important landmark and further work. This will take place after the signature of a long-term power purchasing contract in March 2016 for the disposal of the whole power station capacity to Electric Power Generation Enterprise (EPGE), the follow-up company of Myanma Electric Power Enterprise (MEPE) as part of the reorganization within MOEE.
Sembcorp' s Myingyan Power Projects costs around 300 million US dollars. The Myingyan Power Projekt would become one of the biggest gas-fired power stations in Myanmar and will be a major player in covering the country's increasing power needs. Sembcorp Industries does not expect the signature of the contract to have a significant effect on Sembcorp Industries' net income per registered shares and net assets value per registered shares for the year ended December 31, 2017.
The Sembcorp Industries is a premier power, ocean, water and city group with operations on five major nationalities. Sembcorp is a reliable supplier of key power and drinking system systems for industry and municipalities with plants with a total output of over 10,000 MW and almost nine million m3 of drinking and waste waters per year.
In addition, it is a global market and market leadership in naval and off-shore technology and an acknowledged trademark in the city.