Zhefu Holding-Supreme Group consortium to develop USD 2.5bn Myanmar gas-fired plant project

A Zhefu Holding Group Co Ltd-Supreme Group of Companies consortium plans to build a 1390MW gas-fired power plant under an EPC contract in Myanmar, according to a source from a project participant. The total project investment (TPI) is around USD 2.5bn. The project owner is Myanmar Electric Power Enterprise, which will start to seek project financing from financial institutions inside and outside of Myanmar in June 2019.

The project includes an LNG receiving terminal, a gas-fired power plant project, a main transformer, and a switching station, among others. The LNG receiving terminal involves a floating storage unit (FSU), a port, and an onshore gasification unit, among others.

The project feasibility study and environmental impact study for the gas-fired power plant has been completed. The project is at the construction preparatory stage. At present the project design is ongoing. It is scheduled to start construction in early 2019 with a planned duration of around 36 months, the source said.

Zhefu Holding Group Co Ltd is a Shenzhen-listed company, whose business scope includes hydropower, nuclear power, oil and gas, and micro finance, among others.

The Supreme Group of Companies is headquartered in Rangoon, Myanmar and its businesses range from environmental and water engineering, agriculture,energy (turbine, hydropower), steel structures, construction, and trading.

Source: iiicorp

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