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Malaysia's Tenaga signs agreements to build $1b power plant

Published on Jan 21, 2013 9:26 PM

KUALA LUMPUR (REUTERS) - Tenaga Nasional, Malaysia's largest electricity utility, has signed agreements with Samsung Engineering & Construction Malaysia and Siemens for building and operating a 2.47 billion ringgit (S$1 billion) power plant in the northern state of Penang.

In a filing with Malaysia's stock exchange, Tenaga said it signed an engineering, procurement and construction contract for the 1,071MW power plant with Samsung Engineering, plus a long-term service and 20-year operation and maintenance agreement with Siemens.

The filing did not give a breakdown of the value of the different agreements for the combined cycle gas turbine plant.

The power plant is scheduled to be completed by the end of 2015, Tenaga said.

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