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Singapore's Asiatech Energy to build power plant in Myanmar

Singapore company Asiatech Energy on Monday signed a financing agreement with United Overseas Bank (UOB) that will enable it to go ahead and build a 230-megawatt power plant in Myanmar's Mon state.

SINGAPORE: Singapore company Asiatech Energy on Monday signed a financing agreement with United Overseas Bank (UOB) that will enable it to go ahead and build a 230-megawatt power plant in Myanmar's Mon state.

When fully completed at the end of 2015, the US$170-million combined cycle gas-fired power plant will produce enough electricity for around 5 million people.

UOB did not disclose the loan amount.

According to the Asian Development Bank, only about a quarter of Myanmar's population of 60 million people currently have access to electricity. 

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