Malakoff to bid for Tanjung Bin power plant project
Malakoff is confident that it has the capacity to undertake the construction of a new 1,000 MW coal-based power plant at Tanjung Bin, Johor, on competitive pricing.
MMC Corporation group managing director Datuk Hasni Harun said the prospect for Malakoff was promising as the company was bidding for the project which would be an extension of its existing 2,100 MW coal-fired power plant there.
He said that given Malakoff's track record in running the country's largest coal-fired power plant at Tanjung Bin, the company was well positioned to submit a competitive bid.
"The decision as to whether the bid is successful will likely be known by September or October this year," he told reporters during Invest Malaysia 2011 here Wednesday.
He said the project would be worth RM5 billion and if Malakoff were to win it, there would a need to pump in about RM1 billion.
"There are many ways to raise funds for the project. We can do it through loans or equity. Besides, that funds could also come from major shareholders such as the Employees Provident Fund," he said.
On the MRT project for which MMC was appointed the joint project delivery partner, Hasni said tenders for subcontractors would open on the first quarter of next year.