Tenaga Nasional Bhd
(TNB) would have close to RM4.5bil in its coffers by the middle of next year from the sale of its minority stakes in independent power producers (IPPs), and that would be more than adequate to meet the company’s RM1bil debt repayment commitment for the financial year ending Aug 31, 2004.
Meanwhile, the company, along with another local player – believed to be Malakoff Bhd – is part of an international consortium that has been shortlisted for a US$1bil water desalination and power project in Saudi Arabia. The winner of the contract is expected to be announced in the first quarter next year.
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