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Ratchaburi to invest US$ 400 million in SE Asia capacity building

Ratchaburi Electricity Generating Holding Plc plans to invest US$400 million in different kinds of operations across Southeast Asia in 2015 as a priority in Myanmar. The company’s Chief Executive Officer Pongdith Potchana said they plan to spend US$ 1.5 billion to increase the electricity generating capacity by 47 percent to 9,700 megawatts by 2023. Rachaburi is to sign an agreement by November on a 2,640 MW coal-fired power plant in Myeik , Tanintharyi Division and it has joined with Thai energy firm PTT PCL for a liquefied natural gas (LNG) terminal in Myanmar. Rachaburi is Thailand’s largest private power producer.

New port facility in Mawlamyine

Myanmar Offshore Supply Base (MOSB) sets up an agreement with the Mon State government to construct, manage and operate a new port facility at the city of Mon State, Mawlamyine. The source said this agreement is for a fully-integrated supply base that will serve the national oil and gas industry, which will be built on 193 acres onshore and 46 acres of river-front land. The facility is designed to provide logistics solutions to oil and gas customers, including exploration, development and floating, production and offloading (FPSO) services. According to the built-operate-transfer (BOT) agreement, MOSB plans to build operating and safety methods for the logistics services offered at the port facility. Mawlamyine is home to a number of offshore gas fields and located about 45 kilometres from the Gulf of Mottama.

Singapore stands as the largest investor of overall budget in this year

Department of Investment and Company Administration (DICA) said Singapore invested over US$4 billion in this year of overall budget. According to the data from (2014-2015) budget year till the end of February, 27 foreign countries invested over US$7.8 billion in Myanmar. Singapore invested in 41 new business plans and the total amount of its investment is over US$ 8.47 billion by the end of 2015 February since foreign investments were allowed in Myanmar. It also has already invested in 116 businesses. By the Investment Law in Myanmar, country’s oil and gas sector, energy, productions, transportation and telecommunication, minerals, hotel and tourism, property, agriculture and livestock and other projects are permitted to be invested in Myanmar. Singapore tops as the largest investor in current fiscal year while UK stands second with over US$ 850 million followed by Hong Kong with over US$ 619 million and China with over$ 516 million respectively.