Aug 12, 2016

Thai Firm Buys 230MW Myanmar Power Plant for $48 Million

Siamgas and Petrochemicals Public Co Ltd will invest $48 million to buy a 230 Megawatt (MW) combined cycle power plant in Myanmar to foray into energy business.
The Thai firm, which supplies liquefied petroleum gas, said this investment is an opportunity to expand into other energy business.
In a stock exchange filing in Thailand, Siamgas said the investment in power plant in Myanmar shall result in higher income and returns from investment, creating additional value for the company.
The company said its 100 percent-owned, Singapore-registered subsidiary Siam Gas Power Pte Ltd (SPW) will acquire the power plant on its behalf.
The power plant is currently owned by MSN International Limited, Asiatech Energy Pte Ltd (AEPL), and Myanmar Lighting (IPP) Co Ltd (MLIPP).
As the first step of the transaction SPW will pay $24 million to the sellers and the transaction is expected to occur within July.
In the second step, SPW will purchase MLIPP’s shares in the proportion of 30 percent of paid up capital of MLIPP by paying $24 million. The transaction is expected to finish within November.
Source: Myanmar Business Today

 
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