International Finance Corporation (“IFC”) is considering up to US$ 45 million of debt financing to build, own and operate a greenfield 225 MW Combined Cycle Gas Turbine (CCGT) power plant in the Mandalay region of Myanmar (“the Project”). The Project will be developed by a consortium of Sembcorp Utilities Pte. Ltd. (“Sembcorp Utilities” or “Sponsor”) and MMID Utilities Pte. Ltd. (“MMID”) under a special purpose vehicle which will be established in Myanmar for the sole purpose of developing and operating the Project (“Project Company”).

The 225MW CCGT will include two sets of Gas Turbine (GT) units; two sets of Heat Recovery Steam Generator (HRSG); one steam turbine generating unit with associated auxiliary equipment; a switchyard area; cooling Water System; demineralized Water System; and wastewater treatment facility. The gas supply pipeline will connect the power plant to an existing gas receiving station located approximately 1.6 km away. A 230kV overhead transmission line, approximately 3 km in length, will connect the power plant to the upgraded Myingyan Steel Mill sub-station located within an existing adjacent steel mill complex.

Construction is expected to start in the first quarter of 2016 and be completed in approximately 22 months, with commercial operations targeted for the first quarter of 2018. A consortium of EPC contractors will be appointed to undertake the engineering, procurement and construction activities of the project.

The Operation and Maintenance (O&M) of the project will be undertaken by the sponsor with the support of a long term service agreement (LTSA) for the GT with the manufacturer.

Core project facilities will together occupy a footprint of about 11.6 hectares. The power plant site is situated within a larger 280 ha Government owned and operated steel mill site.