Burma will sign an agreement later this year to build a natural gas-fired power plant in Tharkayta Township to help meet electricity demands in the country, the Ministry of Electric Power-2 has announced.
The agreement will be sign for a 500-megawat gas-fired power plant later this year, said the Yangon Times.
The plant will be built in cooperation with BKB Co of South Korea.
South Korea will also carry out projects for a gas-fired power plant and waste-thermal power plant in Thilawa Industrial Zone, said the report.
According to earlier reports, Myanmar's Ministry of Electric Power-2 also has plans to build power plants with General Electric Co. and Caterpillar Co. of the United States and J Power Co. of Japan.
There are 19 hydropower, one coal-fired and 15 gas-fired power stations in Burma, totaling 35 plants.
A 600-Megawatt (MW) coal-fired plant will be built near Rangoon in a joint venture with J Power Co of Japan, Mizzima reported in May. No details were given for the power plant to be built by the U.S. companies.
Burma generates a maximum of about 1, 610 MW during the monsoon season and 1,340 MW during the summer season. Of the 1,610 MW, 1,270 MW is generated by hydropower stations when a full storage capacity of water is available during the monsoon.
The country is woefully short of electricity to meet the needs of industry and private citizens. Many businesses rely on private generators to supply electricity during frequent power failures and general shortages.