JAKS to build RM7bil power plant in Vietnam with China partner

Power pact: (from left) Goh, JAKS CEO Ang Lam Poah and CPECC assistant to president/director of international department Xue Danfeng at the JV signing ceremony.

KUALA LUMPUR: Pipe-maker JAKS Resources Bhd will partner China Power Engineering Consulting Group Co Ltd (CPECC) in a 50:50 joint venture (JV) to build a power plant in Hai Duong province in Vietnam for US$1.87bil (RM7.05bil).

The project, which will be facilitated via JAKS unit – JAKS Power Holding Ltd – will see the JV company (JV co) called JAKS Hai Duong Power Company Ltd constructing two 600MW power-generation units that will begin construction in the first half of next year, with completion planned for 2020.