Home MMBIZ News Gov’t to Spend Over $26m in Hydropower Projects

Gov’t to Spend Over $26m in Hydropower Projects

Myanmar will spend over $26 million on hydropower projects during the 2014-15 fiscal year, according to the Union Budget Bill 2014.

The Hydropower Implementation Department under the Ministry of Electric Power will spend about $8 million for equipment for the upper Yeywa hydropower project, $8 million for Thahtay hydropower project and $4 million for the upper Kengtung project, according to the budget bill.

The funding will come from China and other aid agencies.

A total of $2 million in Chinese loans will be provided to Golden Energy Co, which operates Thayyaykhat (2) project, and over $3 million will go to Future Energy Co, which will implement Beluchaung (3) project.

The state-owned enterprises will spend more than $243 million on various projects, while Japan will assist with the renovation of Beluchaung No.2 power plant, the bill said.

Yangon City Electricity Supply Board (YESB) will also use loans from other international aid agencies such as Japan International Cooperation Agency (JICA) and Asian Development Bank (ADB).

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