Posco Daewoo, the trading unit of Posco, held a groundbreaking ceremony for a solar plant that it will build for free of charge on an island in Myanmar in hopes of boosting ties with the country, the company said Sunday

The latest project, put together at the request of Myanmar’s Ministry of Electricity and Energy, will offer electricity to some 1,000 households on Manaung Island, the company said.

“We are delighted to be able to provide practical help to Myanmar. We also hope to forge a cooperative relationship with Myanmar in the energy business by clinching an LNG terminal and independent power producer deals,” said Posco Daewoo CEO Kim Young-sang. 

Posco Daewoo is seeking to construct the terminal there to supply liquefied natural gas across Myanmar and China alongside a plant that produces over 500 megawatts using gas brought in via the terminal, the company said.

Kim attended the groundbreaking ceremony Saturday, joined by Myanmar’s Electricity and Energy Minister U Win Khaing and Rakhine State Chief Minister U Nyi Pu on Manaung Island.

According to the firm’s time line, the new facility will be completed in the first half of next year by uniting a 500-kilowatt solar power generator and energy storage system. 

By Kim Bo-gyung (lisakim425@heraldcorp.com)