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Myanmar’s junta approves B87bn investment, including gas power plant

FILE PHOTO: Soldiers stand guard as they block a road near a prison in Naypyidaw on Feb 15, 2021, after the military seized power in a coup on Feb 1. (AFP)

Myanmar’s military rulers have approved new investment in projects worth about 87 billion baht, including a liquefied natural gas (LNG) power plant that will cost about 78 billion baht, the country’s investment body said.

Approvals for 15 projects were given on Friday by the Myanmar Investment Commission, according to a statement on the website of the Directorate of Investment and Company Administration.

The announcement comes with much of Myanmar’s economy paralysed by protests and strikes since the army seized power on Feb 1. International credit rating agency Fitch Solutions has forecast the economy will contract by 20% this year.

In addition to the…

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