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