An area of Yangon city with power blackout seen this year (Photo:EMG/Myo Min Htet)
Myanmar's Asia World Company has
recently been granted permission to distribute electricity to 37
townships in Eastern Bago Region.
Asia World Group is Myanmar’s largest
and most diversified conglomerate, which interests in industrial
development, construction, transportation, import-export, and a local
supermarket chain.
About half of Singapore’s investment in Myanmar comes through Asia World affiliates.
The Asia World Company.
The company is one of 20 private
enterprises recently granted permission by Myanmar's government and
President Thein Sein to supply electricity to 84 townships in other
states and regions.
The winner companies are Gold Energy
Limited, which is a subsidiary of Asia World Company, Ruby Dragon
Construction, Capital Development, Eden Energy and Natural Resources
Development Company.
Private power distribution companies
will generate and supply not only electricity to the national grid but
also reserve electricity when electricity cut off and power voltage is
low.
Moreover, the companies have submitted
the proposals to generate reserve power from coal-powered plants or
natural gas-powered plants.
While the government outsources power
distribution to private companies, there is yet no law in place that
sets a standard for electricity supply and costs. Neither was any
official announcement made about the contracts.
Many recognise the urgent need to
upscale electricity production in Myanmar to meet a growing domestic
demand for both businesses and private consumption. But many fear that a
lack of regulation will lead to lack of accountability and exorbitant
prices.
"If the industrialists invest in private
power distribution enterprise, the public can enjoy more electricity.
But, they [public] can’t get the electricity charges at the current
price," an official from Yangon Region Government Committee said at a
recent seminar held at the Sedona Hotel in Yangon.
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