Toyo-Thai to penetrate Myanmar power business

Myanmar's power market.

Toyo-Thai is seeking opportunities in in that through the establishment of two joint ventures.

One of the JVs will have Thai Summit Group as a partner.

The expansion follows a memorandum of understanding signed with Myanmar's Ministry of Electric Power on August 10.

The MoU paved the way for greater collaboration for developing a 100-megawatt power plant in Yangon.

At present, the company is training 30 Myanmar engineers at its Bangkok head office and plans to employ 50 Myanmar engineers for preparation of future operations.

Toyo Thai had approved the establishment of Toyo Thai Power Corp in Singapore (TTPSG) as a 60:20:20 joint venture with 8 Coins Capital and Pacific New Power. The joint venture will be capitalised at US$42.5 million.

Through TTPSG, it will set up a 50:50 joint venture in Myanmar to operate a power plant. The company will be capitalised at $500,000.

Another 40:60 joint venture will be established in Myanmar to invest in the power business. With Thai Summit Group holding 60 per cent, Thai Summit-Toyo Thai Power Co will be capitalised at Bt1 million.

For more.