Myanmar is seeking joint-venture partners to import, store, distribute and sell oil products, according to a tender document seen by Reuters.
The Myanmar Petroleum Products Enterprise (MPPE) operates storage facilities and runs retail and wholesale distribution of petroleum products under Myanmar’s Ministry of Energy.
It now wants foreign companies to submit a bid to form a joint venture. This would be required to expand the business and rehabilitate existing facilities. MPPE will hold 51 percent of equity while the foreign company will hold the rest.
MPPE’s contribution would include land use rights and existing facilities such as buildings, equipment, machinery and infrastructure, according to the document.
The joint venture will be for a maximum of 30 years after which it could be extendable by two 10-year periods.
Applicants would need to have a minimum of 10 years’ experience and are required to have a traded a volume of at least 2.7 million cbm of oil products a year in the last three years.
The tender closes on 20 October.