Myanmar’s Ministry of Electric Power has entered into an MoU with five South Korean firms for the implementation of the 500 MW Thakayta gas-fired combined cycle power plant project in theYangonregion. The five firms–Busan Korea Biotechnology Company Limited, Korea Western Power Company, Hyundai Engineering and Construction Company Limited, Hexa International Company Limited, and Hana Daetoo Securities Company Limited–will be responsible for developing the project on a build-operate-transfer (BOT) basis. The aim of the power project is to supply electricity to the Thilawa industrial zone.