November 20, 2008

PGCIL to execute three projects in Myanmar

BL reported that India has extended a USD124 million line of credit to Myanmar Government for construction of 3 major transmission projects and one 120 MW power plant.

Power Grid Corporation of India will take up the construction of all the 3 transmission projects.

As per the report, India had signed a USD 64 million line of credit for three important transmission projects to be undertaken in Myanmar. The credit is being extended by the Exim Bank, which signed the line of credit agreements with Myanmar Foreign Trade Bank.

Another USD 60 million credit was being extended by the Indian Government for setting up a 3x40 MW power project at Thatay Chaung. The project will be executed by Bharat Heavy Electricals.

Myanmar also expressed interest to join hands with Indian companies to take up and execute power generation projects to the tune of 1,860 MW.