To be located in Yangon, the power plant is anticipated to be completed by 2015, Eleven Times reported.
The Japanese Ministry for Economy, Trade and Industry and the government of Myanmar has signed an agreement for the 500MW project.
Hlaingtharyar Industrial Zone chairman Myat Thin Aung said, "The minister agreed to provide technical aid for the power plant which will be located in Hlaingtharyar Industrial Zone."
"The electricity generated from the power plant is not only enough for the industrial zone but also other townships," Aung added.
The Japanese government will also provide support for the construction of a 50MW gas-fired power plant in Thilawa Industrial Zone in the country.
"The gas propelled power plant in Thilawa is smaller than that of Hlaingtharyar Industrial Zone because they are still carrying out the zones," Aung added.
