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Myanmar to Upgrade Hydropower Stations with AFD Loan
28/05/2019
AUTHOR: TIN MG OO
Myanmar will upgrade five hydropower stations across the country using a loan worth €35.7 million. The loan is from French Development Agency (AFD) according to Dr. Tun Naing, Deputy Minister of the Ministry of Energy and Electricity.
Pyidaungsu Hluttaw, the country’s highest legislature, approved the proposal for the loan as it received the majority of votes.
“We will implement preparatory measures for emergency cases and employ surveillance equipment for the safety of the people living downstream of hydropower plants,” said Dr. Tun Naing.
The hydropower plants that will be renovated are Ye New Hydropower Plant, Kin Tar Hydropower Plant, Mone Chaung Power Plant, Thaphanseit Power Plant and Zaung Tu Power Plant. For the Zaung Tu Power Plant, the majority of the equipment will be replaced with new equipment. To install the new equipment, Dr. Tun Naing said that the ministry will hire a consultant company for the project.
After a seven-year grace period, Myanmar will have to pay back the loan from AFD at around K3.15 billion per year over a twenty-year payment term. After major renovations, the income of the hydro plants is expected to increase to K4.86 billion per year. Moreover, the plants needing renovation are between the 19 and 34 years old the deputy minister added.
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