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Myanmar, Chinese Company Sign Power

Subject: Myanmar, Chinese Company Sign Power Project Contract 


               Myanmar, Chinese Company Sign
               Power Project Contract


               YANGON (Nov. 11) XINHUA - The Myanmar electric power
authorities and
               a Chinese Yunnan company reached one more contract here
Wednesday on the
               implementation of the Paunglaung Hydroelectric Power Project
in Pyinmana,
               central Mandalay division of the country. 

               The signing ceremony of the second volume contract between
the state-run
               Myanmar Electric Power Enterprise (MEPE) and the Yunnan
Machinery and
               Equipment Import and Export Corporation (YMEC) of China was
attended by
               Minister of Electric Power Major-General Tin Htut and
Economic and
               Commercial Counsellor of the Chinese Embassy Lin Jian. 

               Representing their respective parties, Director-General of
the MEPE U Yang
               Naing and President of the YMEC Lin Zai You signed the

               According to the 10 million U.S. dollar contract, the YMEC
is to provide
               machinery and equipment and spare parts for construction of
the underground

               The Chinese side will extend seller's credit, while the
Myanmar side is to make
               advance payment of 5 percent. The term of repayment is 5
years with a grace
               period of 2 years. 

               The first volume contract of the project, which is worth 160
million dollars, was
               signed here in early last month, according to which the YMEC
is to provide the
               complete set of machinery and equipment, design underground
factory and
               direct work implementation. 

               The Paunglaung hydroelectric power station, with an
installed capacity of 280
               megawatts accounting for 28 percent of Myanmar's existing
installed capacity,
               will mainly generate electricity and will also possess
agricultural irrigation

               Since 1989, the YMEC has been cooperating with Myanmar in
               hydroelectric power stations and has exported to the country
complete sets of
               related equipment for 17 small and medium stations of its
kind, accounting for
               94.4 percent of the country's hydroelectric power projects. 


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