Thai construction company TTCL Pcl said it plans to build a $2.8 billion coal-fired power plant in Kayin State, according to a Reuters report.
The advanced technology coal-fired power station is expected to start operations in 2023 with the full 1,280 megawatts to be completed in 2024.
A formal joint venture agreement, which will give TTCL a 95 percent stake and the state government 5 percent, is awaiting approval, the report said.
The $2.8 billion price tag includes construction costs of up to $2 billion, which TTCL will bear, plus the 40-year land lease. The investment is expected to generate a return between 10 percent and 13 percent.