Local Property News | Posted by Shwe Zin Win
A Hong Kong-based company will invest $ 500 million for electricity generation from LNG in Yangon and Kyaukphyu cities according to the Directorate of Investment and Company Administration (DICA).
The CNTIC Vpower Company will invest US$ 363.070 million in the Ministry of Electricity and Energy-owned Thakata power plant in the generation of 400 MW of electricity with IPP (BOO) system in Yangon region.
The Company will also invest US$ 140.470 million in the generation of 150 MW of electricity at the Kanti Field No. (453), Gone Chane village groups, Kyakphyu city in Rakhine region.
Hong Kong is the largest investor in the sectors of electricity, real estate and garment industries.
It has topped in the list of investors in the first two months of the current financial year according to data of DICA.
Hong Kong’s total foreign investment accounted for US$ 1392.629 in the fiscal year 2019.
Khun Naung Lwin Htoo
Translated by Kyaw Hsu Wai
Credit: iMyanmarHouse.com
