BUSINESS – Singaporean firm powers ahead in Mon State

Singaporean company Asiatech Energy has obtained a loan from the United Overseas Bank to build a 230-megawatt power plant in Mon State. The combined cycle gas-fired power plant is expected to produce enough electricity to supply close to five million people. Asiatech Energy expects the project to be finished by next year, and to cost an estimated US$170m. Gas-fired power plants are relatively uncommon in Burma. Hydroelectric dams produce 70 percent of the country’s energy.