SINGAPORE: Sembcorp Industries has restarted operations at its 225-megawatt gas-fired Myingyan Independent Power Plant in Mandalay, Myanmar, following a temporary suspension on Aug 12 due to civil unrest in the region.
In a filing with the stock exchange, Sembcorp reported that the decision to resume operations was made after confirming that the conflicts near the plant had ceased, ensuring the safety of its workers.
The timing for the resumption of operations was coordinated with Myanmar’s Electric Power Generation Enterprise (EPGE).
The Singapore-based energy company emphasized that it will continue to closely monitor the situation in Myanmar to ensure the safety of its personnel and assets.
Despite the brief suspension of the plant’s activities, Sembcorp stated that it does not anticipate a significant impact on its earnings per share or net tangible assets per share for the financial year ending Dec 31, 2024. /TISG