Puma Energy has opened a petroleum products terminal in Thilawa port in partnership with Asia Sun Energy. Meanwhile, Tint Tint Myanmar Company plans to start its water taxi service by June to combat traffic woes in Yangon.
Puma Energy opens $92m Thilawa petroleum terminal
Puma Energy Asia Sun, the joint venture between global energy firm Puma Energy and local logistics and trading company Asia Sun Energy, has opened its petroleum products terminal at Thilawa port.
The JV claims the terminal is the largest of its kind in the country with a fuel storage capacity of 91,000 cubic metre. It can be used for a range of petroleum products, including commercial fuels, HFO (heavy fuel oil typically used for power generation), bitumen and jet fuel.
“The Thilawa terminal will provide for Myanmar’s increasing need for transport fuel and contribute towards the nation’s development,” said David Holden, General Manager of Puma Energy Asia Sun.
In Myanmar, Puma Energy is engaged in sales and distribution of aviation fuel. It had earlier proposed a joint venture with state-owned Myanmar Petrochemical Products Enterprise for a liquid petroleum gas distribution project but the plan was later shelved.
Puma Energy is backed by Swiss commodities trading house Trafigura.
Tint Tint Myanmar to start water taxi service in June
Yangon-based Tint Tint Myanmar Company, which won a tender to offer water taxi services in the country earlier this year, will launch its services in June.
Water taxi services are seen by many as a way for commuters to beat Myanmar’s traffic woes.
The water taxis from Tint Tint Myanmar will ply on an eight-stop route from Hlaing Tharyar to Bohtahtaung. Fare for the taxi ride will be up to K500 ($0.36).
The company expects to invest $20-37 million in the entire project. It will use locally manufactured boats as well as used boats from Australia and Thailand to ferry up to 200 people on each boat.
With about two million people in Yangon living near the waterway, Tint Tint Myanmar is hopeful it will get nearly 20,000 commuters onboard this year.