Myat Myittar Mon attempts to enter aviation fuel business

Oct 09, 2019

Myat Myittar Mon attempts to enter aviation fuel business

Naypyitaw (Myanmar) Oct 09: Myat Myittar Mon Company, which imports petrol and operate petrol stations in Myanmar, wants to expand into the business of importing, storing and distributing aviation fuel, or jet fuel, its managing director, U Win Myint, told The Myanmar Times.
The company has already sent proposals to the Minister of Transport and Communication and Department of Civil Aviation.
If approved, Myat Myittar Mon Co will join National Energy Puma Aviation Services (NEPAS) and Golden Myanmar Airlines Public Company in the Myanmar aviation fuel sector.
U Win Myint said that Myat Myitta Mon's main reason for wanting to expand into aviation fuel is to break a monopoly long held by NEPAS. "We think there should be fair competition in the local aviation fuel market. If there is more competition, then consumers will be able to enjoy more reasonable prices and better quality of service," he said.
NEPAS, a joint venture formed by state-owned Myanma Petroleum Products Enterprise and Singapore's Puma Energy in 2015, was the only aviation fuel supplier in the country up until this year.
It was only in April that Golden Myanmar Airlines, a local airline, received permission to participate in the import, storage, distribution abd transportation of jet fuel, according to the list of permitted enterprises from the Myanmar Investment Commission.
The airline is the first private company to operate an aviation fuel business in Myanmar and end a state-backed monopoly in the fuel distribution market.
If its proposal is approved, Myat Myitta Mon, which has been in the petrol station and petrol trading business for nearly 20 years, will seek technical assistance in running the jet fuel business from international partners.
Source: Myanmar Times