Japanese companies, Chugoku Electric Power Co and Shikoku Electric Power Co will buy 28.5 percent stake each in the operation of a gas-fired power plant in Myanmar. The total transaction value is estimated at US$85 million (K130.4 billion). Shikoku Electric spokesman confirmed that the project would cost between ¥4 billion (K55.78 billion/US$36 million) and ¥5 billion. The Japanese companies will provide expertise in operation and maintenance and expect to gain long-term stable investment revenue.
In Myanmar, electricity demand is forecast to grow to 14.5 million kW in 2030 from 2.8 million kW in 2016. Last year, hydropower generation accounted for about 70pc of the country’s total electricity output, according to the ministry. Chugoku Electric has invested in coal, hydro, gas and wind-power generation projects in Indonesia, Malaysia, Taiwan and the United States. Shikoku Electric also has participated in power projects in Chile, Qatar and Oman.