Thailand’s industrial estate developer Amata Corp is planning enter in Myanmar by 2020. On the energy sector, two companies from Thailand and Singapore are preparing to invest $400 million in solar energy.
Industrial estate developer Amata preps to enter Myanmar
Thailand’s leading industrial estate developer, Amata Corp is eying to expand to Myanmar by 2020. One reason is slowdown of the Thai economy that was partly responsible for Amata’s revenue plummeting by nearly half this month.
Amata is expected to generate about five percent of the total revenue for 2020 in Myanmar, said Stephen Siew, chief financial officer of Amata as quoted by Reuters.
In Thailand, Amata’s operations are in Amata Nakorn industrial estate in the eastern city of Chonburi and Amata City in the eastern province of Rayong.
Amata plans to expand in Vietnam by spending $200 million to develop two industrial estates, Amata City Bien Hoa and Amata City Long Thanh, a high tech industrial park near Ho Chi Minh City. Amata VN is also looking into getting two licenses to develop another two projects.
Thailand and Singapore plans on invest over $400 m Solar investment
Myanmar has received proposals from two companies from Thailand and Singapore to invest in solar energy.
“Thailand is interested in establishing a 220 megawatt solar energy in Magwe Region and Singapore company for a 150 megawatt solar investment in Mandalay Region,” said Than Aung Kyaw, deputy director general of the Directorate of Investment and Company Administration.
The investment amount could reach over $400 million. The two companies have already undergone tests and assessments relating to the environment at the region, said industry sources.