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AFP- China signs contract for Myanm



       China signs 250 million dlr contract for Myanmar hydropower plant

       Tue 18 Aug 98 - 03:31 GMT 

       BEIJING, Aug 18 (AFP) - China has signed a contract to provide 250
million dollars' worth of equipment for
       Myanmar's planned largest hydropower plant, the official China Daily
reported Tuesday.

       The Paung Laung plant, with planned capacity of 280 megawatts, is
expected to increase the country's total generating
       capacity by 30 percent, the newspaper said.

       The Chinese side will provide equipment for the plant, construction
machinery and technical know-how.

       The deal was signed by China's Yunnan Machinery Import and Export
Corp. and Myanmar's Myan Man Power Co.
       at an export fair that ended last weekend in the southwestern city
of Kunming.

       China is supporting the deal with an export buyers' credit carrying
a 10-year term plus grace period of five years, the
       report said, without providing further details.

       The deal was the largest clinched at this year's Kunming Export
Commodities Fair, which saw a total transaction value
       of 1.8 billion dollars, up 15.8 percent from the previous year.

       Yunnan province Vice Governor Shao Qiwei was quoted as saying the
result was "beyond expectations" as the Asian
       financial crisis caused transactions to slump at other such export
fairs in China this year.

       European and US importers made up for a reduced presence from Hong
Kong and Thailand at this year's fair, the
       newspaper said.