India gives $124 m credit
Myanmar keen to join hands with Indian companies
BHEL to execute Thatay Chaung project
NEW DELHI: India has extended a $124 million line of credit (LoC) to Myanmar Government for construction of three major transmission projects and one 120 MW power plant. Myanmar also expressed interest to join hands with Indian companies to take up and execute power generation projects to the tune of 1,860 MW. Giving this information here, Minister of State for Power, Jairam Ramesh, who returned after a four-day visit to Myanmar, said India had signed a $64 million line of credit for three important transmission projects to be undertaken in Myanmar. The credit is being extended by the Exim Bankwhich signed the line of credit agreements with Myanmar Foreign Trade Bank..
Mr. Ramesh said that Power Grid Corporation of India Limited (PGCIL) would take up the construction of all the three transmission projects making its debut in Myanmar. He said another $60 million credit was being extended by the Indian Government for setting up a 3X40 MW power project at Thatay Chaung. The project would be executed by Bharat Heavy Electricals Limited (BHEL).
The Power Minister said that the Myanmar leadership had also shown keen interest to join hands with the Indian companies to take up construction of 1,200 MW Tamanthi power project and another 660 MW Shuve Saysay power projects on Chin Wind River in order to tap the huge hydro power potential in Myanmar.