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Japanese Bank Approves Loans for $2.5 Billion Power Plant

7 April 2014

Japan’s Sumitomo Mitsui Banking has agreed to extend loans for a 260 billion yen (US$2.5 billion) power generation project in Burma, reports AFP. Citing the Japanese business daily Nikkei Shimbun, the report says that two Japanese heavy machinery makers will take part in the construction of a coal-fired plant with an output of 1.28 million kilowatts in cooperation with Thai engineering firm Toyo-Thai Corporation Public Co. The report did not specify where the plant would be built, but said work would begin by the end of this year, with 2018 set as the year to start operating. The plant will use ultra-supercritical (USC) pressure technology, the most efficient form of coal-burning power generation.