Indian power firms should seize opportunities in Myanmar: ADB

India should look into Myanmar.

This is according to the Asian Development Bank, which stated that Myanmar offers tremendous opportunities for Indian and other energy sector companies to participate in the development of Myanmar`s power, coal, geothermal and hydrocarbons sectors.

In its report captioned `Myanmar Energy Sector Initial Assessment`, ADB has listed existing status and policy framework for numerous energy projects in the country. It has also overviewed Indian companies` participation in exploration and production of oil and gas and in upgradation of refineries.

For instance, to upgrade the Thanlyin refinery, a supply contract was signed by the Myanmar Petrochemical Enterprise and Angelique of India, with financial assistance of $20 million from the Indian government.

Most of the renovation works have been completed, with the exception of a new 4.5 MW power plant. The GoI also extended financial support for renovating the Mann-Thanbayakan refinery, which is scheduled for commissioning in August 2013.

The report gives leads to Indian companies looking for sourcing of coal, gas and crude oil from Myanmar, apart from looking for power engineering, procurement and construction (EPC) jobs.