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Press Release-Line of Credit for transmission line projects in Myanmar-March 21, 2012

Embassy of India
Yangon
PRESS RELEASE

A concessional Line of Credit of US$ 64.07 million was extended by Government of India to Myanmar for execution of various transmission line projects in Myanmar. This loan forms part of India’s extensive development cooperation initiative in Myanmar.

Under this LOC, Power Grid Corporation of India Limited (PGCIL), a Central Transmission Utility of India, and Ministry of Electric Power No. 2 of Myanmar had been negotiating for supply of services and equipment. On March 20, 2012, Ministry of Electric Power No.2 and PGCIL signed a contract agreement for supply of equipment and material by PGCIL for construction of Associated Transmission System for Thahtay Chaung Hydroelectric Project. The project includes supply of equipment and material and supervision during testing and commissioning for 268 miles of 230 KV transmission line, 4 no. of new 230 KV sub-stations and augmentation of 2 existing sub-stations. The contract is to be completed in 15 months time.


 The signing ceremony of the contract agreement was held on 20 March 2012 at Nay Pyi Taw in the presence of H.E. U Khin Maung Soe, Minister of Electric Power No.2, H.E.U Zaw Min, Minister of Electric Power No. 1, H.E. U Than Htay, Minister of Energy, H.E. U Hla Tun, Minister of Finance & Revenue and H.E. U Tin Naing Thein, Minister of National Planning & Economic Development. Mr Mayank Joshi, First Secretary, Embassy of India, Yangon, represented the Embassy on the occasion.

The signatories of the contract agreement were U Khin Maung Zaw, Managing Director, Myanmar Electric Power Enterprise, Ministry of Electric Power No.2 and Mr. I.S. Jha, Director (Projects) from PGCIL.

Yangon, March 21, 2012