UNITED Overseas Bank (UOB) on Monday signed a financing agreement with Singapore company Asiatech Energy to build a combined-cycle gas-fired power plant in Mon state in Myanmar.
The project is worth US$170 million, but UOB did not disclose the loan amount to Asiatech Energy, which was commissioned to build the power plant in Mawlamyaing township by Myanmar Lighting IPP Co. Ltd (MLC).
MLC will own and run the power plant. The electricity generated will be distributed by Myanmar Electrical Power Enterprise.
The 230 megawatt power plant will produce enough electricity for the needs of about five million people.
Source: http://www.news.myanmaronlinecentre.com/2014/02/24/uob-finances-myanmar-power-plant-project/
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