Japanese firms win contract for $2 billion, 1,250MW LNG-fired power plant in Myanmar

first_imgJapanese firms win contract for $2 billion, 1,250MW LNG-fired power plant in Myanmar FacebookTwitterLinkedInEmailPrint分享Nikkei Asian Review:Trading houses Marubeni, Sumitomo Corp. and Mitsui & Co. will build a liquefied natural gas-fired power plant in Myanmar, one of the biggest investments by Japanese companies in the Southeast Asian country, people familiar with the matter say.The three companies estimate total investment in the project at $1.5 billion to $2 billion. The plant is expected to start operating by 2025 with a capacity equal to about 20% of Myanmar’s existing power plants.Demand for LNG power is expected to grow in Southeast Asia as a low-emission alternative to cheap coal. Marubeni, Sumitomo, and Mitsui expect the project in Myanmar to help them expand their power businesses in the region.In Myanmar, electricity demand has been growing at a rate of 10% to 20% a year with industrialization and the electrification of farming villages. Frequent power outages have posed an obstacle to the country’s goal of attracting foreign investment in manufacturing.The plant will be built in a suburb of Yangon, Myanmar’s commercial capital and most populous city. The three companies will operate it through a joint venture they will establish with Eden Group, a local conglomerate whose businesses include real estate and agriculture.The plant will have a generating capacity of 1,250 megawatts — about as much as one nuclear reactor. Myanmar’s existing power generation capacity is about 6,000 megawatts, according to the country’s Ministry of Electricity and Energy.[Yuichi Nitta and Yusuke Tanaka]More: Japan Marubeni wins deal for $2bn Myanmar LNG power plantlast_img read more

DepEd-NegOcc receives P9-M cash aid

first_imgGov. Eugenio Lacson (left) discusses with the Department of Education Division of Negros Occidental officials during the Provincial School Board meeting held at the Capitol Social Hall. The agency received a P9-million financial assistance from the provincial government. PROVINCIAL GOVERNMENT OF NEGROS OCCIDENTAL Sabbaluca said that the financial aids, they will be able to improve the facilities of the recipient-schools so they can provide a conducive environment for learners and school personnel. BACOLOD City – The provincial government has released P9-million financial assistance to the Department of Education (DepEd) Division of Negros Occidental.Gov. Eugenio Lacson turned over the check to Provincial Schools Division Superintendent Marsette Sabbaluca during the Provincial School Board meeting held at the Capitol Social Hall here last week.The amount, sourced from the Special Education Fund, will be utilized for the upgrading of public school facilities in the municipalities of Calatrava, Candoni and Isabela, which received P3 million each. This is the second time in two months the provincial government released financial assistance to the DepEd Division of Negros Occidental. “The main goal of the DepEd Division of Negros Occidental is to endeavor that education will continue even in times of disruptions. How do we do that? It is by improving practices for a better normal,” Sabbaluca said during the meeting. On May 12, Lacson also handed a P7-million check to Sabbaluca as financial assistance to improve the facilities of 64 elementary and secondary schools. “This will do so much, especially now that our schools are preparing for the opening of classes amidst the COVID-19 pandemic,” the DepEd official said. (With a report from PNA/PN)last_img read more

FIFA impressed with transparent election of GFA President Kurt Okraku

first_imgWorld football governing body FIFA has congratulated Kurt Okraku following his election as the new President of the Ghana Football Association.Okraku emerged winner after three rounds of voting and was endorsed by 93 delegates following the decision of his closest rival George Afriyie to concede defeat.He succeeds Kwesi Nyantakyi who resigned after a documentary titled Number 12 uncovered wide spread corruption within his administration.Okraku who is Executive Director of Dreams FC has pledged to make the game of football attractive again especially to the corporate world.FIFA representative and observer Luka Nikola stated that he was generally impressed with the manner in which the election was conducted.“On behalf of FIFA congratulations to the new President Mr Kurt Okraku and the entire executive council for being elected.We were here today as observers for FIFA and we observed a very transparent, democratic and well organized elective congress,” he told Citi Sports.The election of Okraku now paves way for the start of the Ghana Premier League which has been slated for the 3rd of November.last_img read more