South Korea’s International Cooperation Agency (KOICA) will develop Myanmar’s electric power network dealing with management and operation in cooperation with the Myanmar power authorities, the local weekly Myanmar Times reported Monday.

Involving the Korea Electric Power Corporation (KEPCO), the network project worth of 1.4 million U.S. dollars, will include the transfer of Korean knowledge and experience in power system operation and protection, general facilities testing, fault analysis and the provision of relay equipment, the KOICA was quoted as saying.

The network development project, which is likely to last for three years, also includes a study of the condition of power lines and power substations in Yangon and Mandalay, the sources said.

The electric power network development project is among a number of projects funded by the KOICA. Other projects cover the sectors of health, agriculture, information and communications technology, and rail transportation.

According to the electric power authorities, Myanmar has built 39 new power plants since 1988, of which 30 are hydropower ones and the country is currently implementing 16 other hydropower projects in the country’s five states and divisions in a bid to increase electricity supply.

Plans are underway to build 15 more hydropower plants in the future.

Meanwhile, other official statistics reveal that South Korea’s investment in Myanmar had reached 191.31 million dollars in 34 projects as of January this year since the country opened to foreign investment in late 1988.