A Thai chemical trader and renewable energy provider is due to sign a deal this year with the Myanmar government to sell power to the country from a planned 20 megawatt plant.
UAC Global Plc is building the first 10 megawatt phase of the plant now and is due to start work on the second phase soon, according to the company’s president, Chatchaphol Prasopchoke.
The deal with the Myanmar government would push the company’s 2017 revenues to a projected 1.8 billion baht, roughly $50 million, he added.
“We’re focusing on ventures that that we’ve just invested in, including the power business, whose capacity we decided to increase in order to boost revenues,” Mr Prasopchoke said.
Myanmar faces a severe energy shortage as its decrepit power infrastructure struggles to keep up with rapid economic growth. But a number of foreign investors have announced large projects that, it is hoped, will fill the gaps in coming years.
UAC Global ‘s plant will “take about two years to complete construction,” said Mr Prasopchoke, with commercial operations due to begin in 2019. The internal rate of return will be more than 15 percent, he added.
The company, which is listed on Thailand’s MAI stock exchange, also has plans for a waste to energy plant with a capacity of 5 megawatts in Laos.
Source: Myanmar Business Today
