Puma Energy selected to construct Thilawa Harbour and oil tanks

Puma Energy selected to construct Thilawa Harbour and oil tanks

Published on Monday, 01 July 2013 19:44

Puma Energy, a global energy firm operating across five continents, has been selected to construct oil tanks and some parts of Thilawa Harbour in Myanmar, official sources have reported.

Myanmar's Ministry of Transport has approved the Puma Energy (Myanmar) Ltd as the successful tender applicant to import and distribute petroleum related products, and to construct oil storage tanks and build a part of Thilawa Harbour.

"As [Puma Energy] has received the required approval from the Ministry of Transport, now they have to submit [the investment proposal] to Myanmar Investment Commission," said Kyaw Myint, General Manager at the Myanmar Ports Authority.

The firm will start the project work at Thilawa Special Economic Zone (SEZ) as soon as it completes the formalities at the Myanmar Investment Commission, he added.

Thilawa SEZ is a multi-million joint project between Myanmar and Japan and it includes a harbour construction in Thanhlyn township in Yangon.

Myanmar authorities have earlier divided the harbour construction area into 37 land plots each 200 metres wide on the Yangon river front.

Puma Energy will implement the project at No. (3) Land Plot.

Other companies to develop land plots in Thilawa SEZ will be the military-owned Union of Myanmar Economic Holding Ltd. and Myanmar Economic Corporation, Shwe Taung Co., Max Myanmar Co., International Group of Entrepreneur Service Co., Diamond Star Co., Myat Myittarmon Co., and Myanma Port Authority.

Myanmar Port Authorities invited tenders to develop their assigned area.

According to an MPA official, 18 companies bought tender forms at US$500 each. However, only two companies - Puma Energy (Myanmar) Ltd and Petro China International (Singapore) Pte Ltd - paid the tender security amount USD$5 million.

Later, Petro China Int'l withdrew their tender security, and Puma Energy remained as the sole bidder of the tender.

According to the officials, this is because of the strict requirements of the tender process that insists that the bidder have 3 million cubic metre oil storage capacity worldwide and 10 year industry experience.

On May 8, Myanmar Port Authority announced it shortlisted Puma Energy as the company to meet the tender requirements. The Ministry of Transport recently confirmed it, making Puma Energy the final winner.

Source: http://www.news.myanmaronlinecentre.com/2013/07/01/puma-energy-selected-to-construct-thilawa-harbour-and-oil-tanks/