HomeMMBIZ NewsGovt Calls on Private Sectors to Invest in Electricity

Govt Calls on Private Sectors to Invest in Electricity

The Ministry of Electric Power has invited private firms to produce electricity in any part of the country in a bid to tackle the crippling power shortage in the country, an official statement said.

Any private firm that wants to build hydropower projects, gas-fired and coal-fired power plants are invited to submit applications to the Ministry of Electric Power, the release said.

This is the third time the Ministry of Electric Power has invited private sector for electricity generation. Earlier in June and September, the ministry invited the private sector to invest in the key sector.

To date, 23 companies have been granted permission to generate electricity in 84 townships.

The ministry said interested investors have to mention the details of the proposed project including the type of the power plant and the location where it will be set up.

The projects that will meet the required standards of environmental and social assessments will be allowed, it added.

Myanmar currently produces overall 3,300 megawatts of electricity. However, production hits a snag during summer as 70 percent of the production comes from hydropower.

Companies from Indonesia, Japan and South Korea have already shown interest in investing in coal-fired and gas-fired power plants in Myanmar.

- Advertisment -spot_img

Must Read

Ooredoo adopts new brand positioning

Recently, Ooredoo Myanmar changed their brand logo on Facebook baffling the users amid rumours that Ooredoo Group was planning to sell its Myanmar branch. But...