Myanmar has approved a $2.6-billion investment by Longwin Global Petrochemical Co Ltd, a joint venture company, to set up a five million MT oil refinery along with related logistics facilities in Tanintharyi region, located in the southern part of the country, website dealsteetasia reported on 24 April.
The project includes construction of the refinery, sales and production of petroleum products and storage and logistics facilities like storage farms and jetty. China’s Guangdong Zehenrong Energy Co Ltd (GDZR), Union of Myanmar Economic Holdings Ltd (UMEHL) and an energy company under the Htoo Group of Companies form part of the consortium, according to a source familiar with the development.
The project will be located on a 733-acre patch UMEHL’s palm oil plot in Dawei district, Tanintharyi region, the report said.
