Myanmar’s military rulers have approved new investment in projects worth nearly $2.8 billion, including a liquefied natural gas (LNG) power plant that will cost $2.5 billion, the country’s investment body said.
Approvals for 15 projects were given on Friday by the Myanmar Investment Commission, according to a statement on the website of the Directorate of Investment and Company Administration.
The announcement comes with much of Myanmar’s economy paralyzed by protests and strikes since the army seized power on Feb. 1. International credit rating agency Fitch Solutions has forecast the economy will contract by 20 percent this year.
In addition to the plant to generate power f…
Keep on reading: Myanmar’s junta approves $2.8 billion investment, including gas power plant