Myanmar's TPMC to set up LNG power plant with $500 mln investment

Toyo Thai Power Myanmar Co Ltd (TPMC), the construction services unit of Thai peer TTCL Public Co Ltd., plans to invest between 471 billion kyats ($350 million) to $500 million to set up a liquefied natural gas (LNG) power plant.

Toyo Thai Power said that the LNG to power the plant will be imported, it is expected to generate 388 megawatts of electricity and will be located in Alone Township, Yangon. At present, the company is preparing an environmental impact and socio-economic impact reports for the project.

TPMC said that it plans to begin construction on the project by the middle of next year, although this also depends on completion of the impact reports. It said that if construction starts next June, the plant could begin generating power within 28 months.

The Ministry of Electricity and Energy is currently negotiating terms for the power purchase agreements under which it will buy the LNG generated by the three plants to meet the bulk of Myanmar’s energy requirements by 2020.