Sahakol Equipment Public Company Limited (SQ) has announced that on July 11, 2019, the company has signed a Memorandum of Understanding (MOU) with Golden Lake Company Limited to jointly operate and develop a Mai Khot Coal Mine, located in Shan State, Republic of the Union of Myanmar. A project company will be established to receive the rights to develop such mines from the concession owner.
The initial operating target of the project company is to export coal to potential customers. At the same time SQ will engage in the operation of the excavation of soil and coal from the project company. In the next phase, SQ will thoroughly study the possibilities in the development of the power plant.