Irrawaddy-May 8

The regime-controlled Myanmar Investment Commission (MIC) has approved 15 projects including a US$2.5-billion liquefied natural gas (LNG) power project, which would be the biggest single investment since the military takeover on Feb. 1. The MIC chaired by Lieutenant-General Moe Myint Tun did not reveal details of the project in its press release. During Chinese President Xi Jinping’s trip to Myanmar in 2020, Beijing and the National League for Democracy (NLD) government—since ousted by the coup—signed a letter of intent to speed up implementation of the project under the countries’ Belt and Road Initiative (BRI) agreement. The project is expected to be complete in 2023; 35 percent of the power produced will be distributed to Ayeyarwady Region, with the rest going to Yangon via the national grid. Read more at: https://www.irrawaddy.com/news/burma/162007.html