PETRONAS Withdraws from Yetagun Field Offshore Myanmar

PETRONAS’ subsidiaries, PETRONAS Carigali Myanmar Inc (PCMI) and PC Myanmar (Hong Kong) Limited (PCML) today announced their withdrawal from Blocks M12, M13 and M14 located in the Yetagun field, offshore Myanmar.   The decision was made following a thorough techno-commercial review in alignment with PETRONAS’ asset rationalisation strategy for a portfolio that fits with its..

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Yoma Strategic invests Ks 105 billion in Kawtthaung Hill Development Project

MYEIK—Yoma Strategic Holdings and First Myanmar Investment Company (FMI) will be investing Ks 105 billion in Kawtthaung Hill Development Project which includes international standard Museum, Hotel and Villas, according to the sources. The project will be implemented on 1199 Mountain situated in Kawtthaung Township, Kawtthaung District, Taninthari Region. The officials explained about the Environmental Impact..

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New bridge infrastructure planned in Ayeyarwady, Shan

The Pathein Bridge (2), which directly connects Pathein Mahabandoola Road with the west bank of Ngawun River in Ayeyarwady Region, will officially open for traffic in September, according to the Ministry of Construction. The bridge, which was connected to accommodate rising traffic as a result of housing expansion by the river, was completed in July..

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Myanmar suspends Manipur hydro project in Chin State

Myanmar has suspended a 380-megawatt hydropower project at the Manipur River in Chin State due to high risk, U Tun Naing, Deputy Minister for Electricity and Energy, told the Hluttaw last week. “After a review at the State Econominc Coordination Committee Meeting, this project was found to be more risk than reward and thus a..

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Govt greenlights Ywama gas plant upgrade

The Upgrading of a combined cycle gas turbine power plant in Ywama, Yangon, has been given the go-ahead by the Ministry of Electricity and Energy (MOEE). The Power plant is located in Insein township, and the US$300 million required for the upgrading will be provided by the World Bank. A tender for the project will..

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MIC approves multi-million dollar industrial park in Hlegu

The Myanmar Investment Commission (MIC) on July 31 approved the US$230.6 million Hlegu Industrial Park, which will be developed by Singapore’s Sembcorp Industries.  The project, set to cover some 1487 acres in Hlegu township, Yangon, was signed between Sembcorp CSSD Myanmar Co and local partners City Mart Holding Co Ltd (CMHL), and Myanmar Agribusiness Public..

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