Sembcorp Industries says its power plant in Myanmar remains in operation, and its employees are safe, following the coup on Feb 1.

The 225-megawatt gas-fired power plant in Mandalay, Myanmar, commenced full commercial operation in October 2018. The plant is being operated by Sembcorp’s subsidiary Sembcorp Myingyan Power Company Limited.

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As of Dec 31, 2020, the net book value of the facility was US$57 million ($75.4 million) and US$230 million of the project’s loan remains outstanding. The outstanding loan is backed by a corporate guarantee issued by Sembcorp’s wholly-owned subsidiary, Sembcorp Utilities.

Sembcorp’s industrial park development as announced on Aug 17, 2020, has not commenced. The group says it will continue to monitor the situation in the country.

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Shares in Sembcorp closed flat at $1.69 on Feb 16.