United Overseas Bank Ltd is stepping up its business
in Myanmar, focusing on financing infrastructural projects.
On Monday, UOB signed a financing agreement with Singapore
company Asiatech Energy to build a combined-cycle gas-fired
power plant in Mon state in Myanmar.
The project is worth $170 million, though UOB did not
disclose the loan amount to Asiatech Energy, which was
commissioned to build the power plant in Mawlamyaing township by
Myanmar Lighting IPP Co Ltd (MLC). (link.reuters.com/hyg27v)
NOTE: Reuters has not verified this story and does not vouch
for its accuracy.
(Compiled by Singapore Newsroom; Editing by Anand Basu)