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YANGON: A subsidiary of Singapore-based Navigat Group said yesterday it had begun supplying power under a purchasing agreement that will be the template for future deals by Myanmar, which has one of the lowest electrification rates in Asia.
MAXpower (Thaketa) Co Ltd said it spent US$35 million (RM115 million) building a 50-megawatt gas-fired plant in a suburb of Yangon, becoming the first entirely foreign-owned company to enter a long-term power purchasing agreement with the government.
The deal stemmed from a 2012 meeting with government officials.
http://www.information.myanmaronlinecentre.com/navigat-unit-in-myanmar-power-deal-business-times/
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