19 April 1999 00:00 [Source: ACN]
The power and urea investments proposed in Myanmar are expected to proceed only in five to ten years in light of the prolonged Asian crisis, the Ministry of Energy said.
The two investments are part of the three-in-one project proposed three years ago by the Total-Unocal-Mitsui consortium. The package, then estimated to cost US$700m, includes a 250km gas pipeline linking the Yadana gasfield to Yangon.
The ministry said Kyaik, which is 80km from Yangon, has already been selected as the site for the 300 000 tonne/year ammonia and 570 000 tonne/year urea project.
Total said the urea project looks to be stalled but declined to comment further.
Mitsui & Co also declined to comment, while Unocal was not available at ACN press time.
The consortium initially planned to sell 80% of the gas production to Thailand and supply 20% to the urea project. The Yadana gasfield is expected to produce 19.5m m3/day of gas.
Myanmar produces only 1200 tonne/day (396 000 tonne/year) of urea.
The Ministry of Energy said the country needs at least 1m tonne/year.
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