Investment
Investment
Indonesian firm plans to invest in power plant in Myanmar
Source: Xinhua
Time: 2013-Apr-9 16:02
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YANGON, April 8 (Xinhua) -- Indonesia's Bukit Asam mining company is planning to invest in Myanmar's electricity sector, local media reported Monday.

 

Bukit Asam has recently sought permission with the Myanmar government for building a coal-fired power plant in the country capable of generating 100 to 200 megawatts (mw) at a cost of about 400 million U.S. dollars , said the Myanmar Times News.

 

The company intends to form a joint venture with the government and also establish partnership with local company.

 

Meanwhile, an Indonesian business delegation consisting of 60 representatives from 11 leading companies visited Myanmar early last week, during which a business discussion with Myanmar entrepreneurs was held at the Myanmar-Indonesian business forum at the office of the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) here.

 

In 2012, bilateral trade between Myanmar and Indonesia reached 391.08 million U.S. dollars, of which Myanmar's export to Indonesia stood at 40.37 million dollars while its import from Indonesia was valued at 350.71 million dollars.

 

According to official statistics, Indonesia's investment in Myanmar amounted to 241.497 million U.S. dollars in 12 projects, accounting for 0.57 percent of the total as of February 2013 since Myanmar opened to such investment in late 1988 and standing the 14th in Myanmar's foreign investment line-up.

Editor:Xu Rui
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