Govt allowing private firms to supply electricity
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The government's plan to continue allowing private companies to generate and supply power to the public can rise three fold to four fold in the current power bill without issuing any particular law regarding electricity, said local sources.
If private companies supply power to the public, the charge of one unit might be 120-150 kyats. At present, the ministry of electric power is signing agreements with the private companies to generate and distribute electricity by means of hydropower, natural gas-fired and coal-powered power plants on a basis of BOT system.
Permissions have been given to more than 20 local companies to distribute power to 84 townships. According to the latest unconfirmed news, the President’s Office officially permitted the companies to privatise the electric power sector gradually.
Among the local companies given permission are Gold Energy of Asia World, Ruby Dragon Construction, Capital Development, Eden Energy and Natural Resources Development Company, sources said.
ADB, Japan to help upgrade Kayin-Yangon road
Asia Development Bank (ADB) and Japan will provide US$1.5 million to improve a road connecting Kayin state and Yangon, according to ADB’s office in Yangon. The ADB will obtain aid from a Japanese fund to upgrade the 70km road. With better transport, people from Kayin state would receive more work opportunities, education and health services, the ADB said.
The route is part of the East-West Economic Corridor in Greater Mekong Sub-region that links Myanmar to Indochina via Thailand. Besides upgrading existing roads, the project will also looking to improve bridges and waterways along the route.
The fund will cover the drafting of the plan and budget, implementation of the project, plus training of Public Works staff.
Foreign investment up $731 million in August
Myanmar received a total of US$731 million in foreign investment from six Asian countries in August, the Directorate of Investment and Company Administration has said. Total foreign investment nationally has now reached over $43 billion.
The new investment came from China, Hong Kong, South Korea, Singapore, Malaysia and Japan.
As at August 31, the total investment of China in Myanmar reached $14.2 billion, Hong Kong $6.45 billion, South Korea $3.04 billion, Singapore $2.44 billion, Malaysia $1.625 billion, and Japan $274 million.
The government approved 21 new foreign businesses during August including manufacturing plants, automobile assembly lines and garment factories. Majority of the new investments are manufacturing businesses.
The manufacturing sector has received the lion’s share of foreign investment since the start of the year. In the past, the vast majority went into oil and gas and power projects.
11 Chinese staff under police interrogation in Rakhine
Eleven Chinese staff are under police interrogation over the mysterious death of a Chinese worker at Shwe Natural Gas Project in Rakhine State, according to police. All the workers at the project in Maday Island, in Kyauk Phyu district, are Chinese.
The deceased identified only as Lu, a staff from China’s Yunnan Co went missing on the night of September 2. The search for him was on for three days and his body was found on Maday Island River, the officials said.
The police are still investigating about the case and detained 11 Chinese on Sept 5 for questioning.
Govt outlines expenditure to power rural areas
Myanmar will spend 3.2 billion kyats to provide electricity to rural areas, officials say. An official from Livestock, Fisheries and Rural Development Ministry said it would spend the money on solar and hydro power for rural areas. It is working to get power to 99 townships and over 200 villages across the country.
The ministry has already provided electricity to 6,054 households in rural areas and is planning small and large electricity projects to be implemented over five to 20 years. Its rural development programme will also provide clean water and sufficient nutrition to the rural areas as well as electricity.
