Myingyan Natural Gas Power Project (ADB-48368-001)

Countries
  • Myanmar
Where the impacts of the investment may be experienced.
Specific Location
Myingyan
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 Development Bank (ADB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
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
Dec 8, 2015
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
Myingyan Project Company
The holder of the loan, grant, or other investment.
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)
$ 152.20 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 @ ADB website

Updated in EWS Jul 18, 2017

Disclosed by Bank Apr 28, 2016


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Project Description
The project is a build–operate–transfer (BOT), PPP transaction for a combined-cycle, natural gas power plant with a net capacity of 225 MW to be located in Myingyan, approximately 500 kilometers (km) north of Yangon and 90 km west of Mandalay. The project has two phases: (i) constructing a 143 MW single-cycle gas turbine; and (ii) upgrading the turbine to a 225 MW combined-cycle plant, following the completion of a steam turbine. The project company will enter into a PPA with Myanma Electric Power Enterprise (MEPE), a state-owned utility, and a BOT agreement with MOEP. Myanmar Oil and Gas Enterprise (MOGE) will enter into a gas supply agreement (GSA) with MEPE to supply natural gas for use at the Myingyan power plant. MEPE will pay the value of the gas delivered directly to MOGE. The project will construct associated facilities, such as (i) transmission facilities, including a 3 km transmission line to connect the power plant to the nearby Myingyan 230 kV substation, which dispatches power to the grid; and (ii) a 14 km water supply line from the river intake to the power plant. MEPE will build a 1 km gas pipeline to the existing pipeline.
Investment Description
  • Asian Development Bank (ADB)
This project is co-financed by the Asian Infrastructure Investment Bank ($20 million), International Finance Corporation (IFC) ($40 million). The borrower of the project will be a newly created, special-purpose project company in Myanmar. It will be 80% owned by SCU, a leading developer, owner, and operator of energy and water assets globally, and a wholly owned subsidiary of Sembcorp Industries Pte. Ltd. (SCI); and 20% by MMID Utilities Pte. Ltd. (MMID), a Singaporean company established to partner with SCU in this project (together with SCU, the sponsors).
Contact Information
ACCOUNTABILITY MECHANISM OF ADB The Accountability Mechanism is an independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an Asian Development Bank-financed project. If you submit a complaint to the Accountability Mechanism, they may investigate to assess whether the Asian Development Bank is following its own policies and procedures for preventing harm to people or the environment. You can learn more about the Accountability Mechanism and how to file a complaint at: http://www.adb.org/site/accountability-mechanism/main