Thermal Power

06 Dec 2019

Hong Kong to Invest 500 Million Dollars to Build Two LNG Power Stations

06 Dec 2019  by Eleven Media Group   

Hong Kong based CNTIC VPower YGI Limited is planning to invest over US$500 million to build a 400-megawatt LNG fired power station in Thaketa Township and a 150-megawatt LNG fired power station in Kyaukphyu Township to generate and distribute electricity, according to the Myanmar Investment Commission (MIC).

The company will spend over US$363 million to build the 400-megawatt LNG fired power station in Thaketa Township, Yangon Region and over US$140 million to build the 150-megawatt LNG fired power station in Kyaukphyu Township, Rakhine State.

A total of 50 countries invested US$82 billion total till at the end of 2018-19 FY with Hong Kong coming in 11th place on the foreign investors list with US$8.6 billion.

Hong Kong had invested US$276.988 million from October 1 to 30 this fiscal year making them top of the foreign investors in that month, according to the Directorate of Investment and Companies Administration (DICA).

China, Japan and Thailand invested US$8.667 million, US$6.073 million and US$0.400 million respectively.

Foreign investors invested mostly in oil and natural gas, energy, production, transportation and communications, real estate, hotel and tourism, mining, livestock and fishery, agriculture, industrial zone, construction and other services sectors.

Oil and natural gas sector topped the foreign investment list with over 27 per cent with followed by energy, production and transportation and communications sectors.

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