Sembcorp Myingyan Power Company Limited (MIGA-12131)

Countries
  • Myanmar
Where the impacts of the investment may be experienced.
Specific Location
Myingyan District
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
  • Multilateral Investment Guarantee Agency (MIGA)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
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
Jan 5, 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.
Borrower
SembCorp Utilities Pte. Ltd.</br>Clifford Capital Pte. Ltd.</br>DBS Bank Ltd.</br>Oversea-Chinese Ba
The holder of the loan, grant, or other investment.
Sectors
  • Construction
  • Energy
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Guarantee
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 250.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ MIGA website

Updated in EWS Jul 21, 2017

Disclosed by Bank Nov 19, 2015


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Project Description
This project finances the development, construction, testing, commissioning, operation, and maintenance of a 225-megawatt gas-fired combined cycle power station in the Taung Thar Township in Myingyan District.
Investment Description
  • Multilateral Investment Guarantee Agency (MIGA)
This project comprises of equity and shareholder loan investments from Sembcorp Utilities Pte. Ltd., a non-shareholder loan from commercial lenders Clifford Capital Pte. Ltd., DBS Bank Ltd., DZ BANK AG Deutsche Zentral-Genossenschaftsbank, Frankfurt am Main, Hong Kong Branch, and Oversea-Chinese Banking Corporation Limited, and associated hedging investments from commercial lenders DBS, DZ BANK Hong Kong and OCBC into a power station in Myanmar. The investors have applied for MIGA guarantees of up to $250.0 million for a period of up to 20 years against the risks of transfer restriction, expropriation, war and civil disturbance, and breach of contract. The power station will be operated on gas supplied by the Myanmar Oil & Gas Enterprise and Myanmar Electric Power Enterprise (MEPE), and produce electricity for off-take by MEPE.
Contact Information
*No contacts available* ACCOUNTABILITY MECHANISM OF MIGA The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/