EXIM Thailand Provides Financial Support to Vintage Engineering Group as Contractor for Solar Farm Project in Myanmar

Stocks and Financial Services Press Releases Monday October 10, 2016 12:46
Bangkok--10 Oct--EXIM BANK

Mr. Pisit Serewiwattana, President of Export-Import Bank of Thailand (EXIM Thailand), jointly with Mr. Soraj Rojanabenjakul, Chief Executive Officer, and Mr. Sirat Rattanapaitoon, Director of Vintage EPC Co., Ltd. and VTE International Construction Co., Ltd., subsidiaries of Vintage Engineering Plc., recently signed a financial facility agreement worth 54.45 million US dollar, equivalent to approximately 1,905.75 million baht, to finance the companies' contractor services for the construction of a 220 MW solar power plant, starting from phase 1 of 50 MW in Minbu city of Myanmar, at EXIM Thailand's Head Office.

EXIM Thailand President said Myanmar had since opening up for international trade and foreign direct investment strived for the development of its infrastructure systems as one of the government's key strategies, particularly development of electricity system and transmission line network to adequately serve the country's leapfrog growth in domestic demand and national economy. Myanmar electricity authority has targeted to level up the country's power generating capacity from 4,581 MW at present to 54,608 MW by 2030. It is thus a good opportunity for Thai investors to expand their investments or give contractor services to various construction projects underway in Myanmar today.

Vintage Engineering Group has expanded investment to the energy sector through its contractor service for the construction of solar farm project of GEP (Myanmar) Co., Ltd., a juristic entity in Myanmar which has been granted a 30-year concession on a Build-Operate-Transfer (BOT) basis. This is in line with EXIM Thailand's policy to promote and support Thai entrepreneurs with good potential to provide contractor services for projects on international front and to make investments in Cambodia, Lao PDR, Myanmar and Vietnam (CLMV).


Latest Press Release

Fitch Rates EXIM#s USD300 Million Senior Notes Final #BBB+#

Fitch Ratings has assigned Export-Import Bank of Thailand's (EXIM, BBB+/Stable) USD300 million five-year senior unsecured notes a final rating of 'BBB+'. The notes were issued under the bank's USD1.5 billion medium-term note (MTN) programme. The...

คอร์สเทรดหุ้นด้วยกราฟแท่งเทียนแบบพื้นฐาน Candlestick basic trading class

ใช้พื้นฐานแท่งเทียนเทรดหุ้น ประกอบกับเทคนิคอื่นๆ Basic candlestick trade with other technical แบบฝึกหัด Workshop...

MBAex Partnership Amplifies Global Access to Kinesis Money

MBAex, the largest blockchain assets trading platform in Southeast Asia with over 1.3 million users, has announced a Memorandum of Understanding (MOU) with Kinesis Money. The partnership is in line with MBAex's vision to promote the use of blockchain...

Beacon VC invests in InstaReM ASEANs leading cross-border payments fintech startup

Beacon VC has joined hands with a number of international investors in a THB1.5-billion investment inInstaReM – a leading fintech startup that provides cross-border payment service to individuals and enterprises in more than 40 countries. This...

KTC launches Shop with Worthwhile Deals campaign with up to 16% cash back.

Mr. Nattasit Soontranu, Vice President - Credit Card Business, "KTC" or Krungthai Card Public Company Limited, reveals promotions for the Supermarket category for the year end that KTC has partnered with leading supermarkets including Big C (Big C...

Related Topics