PTT Group Secures Electricity Development Deal for New Yangon City in Myanmar
PTT Group has secured a contract to develop an electricity production system for New Yangon City, Myanmar. This initiative is crucial for meeting the area's anticipated demand and supports broader infrastructure development plans.
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PTT Group, through its subsidiaries PTT Exploration and Production (PTTEP) and Global Power Synergy Co Ltd (GPSC), has been selected by New Yangon Development Co Ltd (NYDC) to develop an electricity production system for New Yangon City. The project is part of a larger development initiative, with NYDC planning to construct the city on 20,000 acres of land, projected to create two million jobs.
The electricity demand will be addressed by sourcing natural gas from GAIL (India), which has been contracted for this purpose. Furthermore, PTT Group is exploring additional projects, including a Gas to Power initiative with a capacity of 600 megawatts, utilizing gas from local fields. The total business plan aims for a production capacity of 5,500 megawatts over five years, diversifying energy sources.
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