Myanmar: Myingyan 225 MW Combined Cycle Gas Turbine (CCGT) Power Plant Project (AIIB-000007)

Countries
  • Myanmar
Where the impacts of the investment may be experienced.
Specific Location
Taungtha Township, Myingyan District, Mandalay Division.
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • Asian Infrastructure Investment Bank (AIIB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Bank Risk Rating
A
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Sep 27, 2016
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Sectors
  • Energy
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 20.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Loan Amount (USD)
$ 20.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 304.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ AIIB website

Updated in EWS May 13, 2020

Disclosed by Bank Aug 19, 2016


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Project Description

According to the bank document, "the project involves the development, construction, and operation of a greenfield 225 MW Combined Cycle Gas Turbine (CCGT) power plant in the Mandalay region of Myanmar. It will increase much needed reliable and clean energy to the country's demand (currently installed power capacity in Myanmar is around 4,700 MW). When completed, the new facility will help to ease the country's severe power deficit. The Project is located in Taungtha, a township of Myingyan District in Mandalay Division. It is 108 km to Mandalay City and 226 km to Naypyitaw, the administrative capital of Myanmar.

For the environmental and social aspects of the Project, the Bank has decided to apply IFC’s Performance Standards (PS) on Environmental and Social Sustainability (2012) since they are consistent with the Bank’s Articles of Agreement and materially consistent with the provisions of the Bank’s Environmental and Social Policy and relevant Environmental and Social Standards and the monitoring procedures that IFC have in place to ascertain compliance with IFC’s Performance Standards are appropriate for the Project".

 


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Investment Description
  • Asian Infrastructure Investment Bank (AIIB)

The project is co-financed with other Multilateral Development Banks and commercial banks. The AIIB financing will be in parallel with other lenders including the International Finance Corporation (“IFC”), the Asian Development Bank (“ADB”) and certain commercial lenders.

Private Actors
Contact Information

Project Team Leader

Ruben Hideo Noguchi

Senior Portfolio Monitoring Specialist

rubens.noguchi@aiib.org

*There is no information being disclosed at this stage of the project*

ACCOUNTABILITY MECHANISM OF AIIB

In addition, the AIIB has a Bank Oversight Mechanism. According to AIIB's policies, "people who believe they have been or are likely to be adversely affected by a failure of the Bank to implement the ESP may also submit complaints to the Bank's oversight mechanism in accordance with the policies and procedures to be established by the Bank for such mechanism." However, at the time of writing, it is unclear what the exact scope and function of this Oversight Mechanism will be.