Tanjong mulls US$300m Egypt power plant bid

  • Business
  • Saturday, 23 Jul 2005

TANJONG Plc is considering a US$250mil-US$300mil bid to buy two Egyptian power plants from Electricite de France as it looks to grow overseas, a source close to the talks said. 

Tanjong announced this week that wholly owned unit Powertek Bhd was in exclusive talks with Electricite de France (EDF) to buy two gas-fired power plants in Suez and Port Said, which have a combined capacity of 1,366 megawatts. 

Tanjong spokeswoman Wang Siew Lan declined to comment on the matter when contacted in Kuala Lumpur. EDF also declined to comment when contacted in Paris. 

Tanjong, which recently made a failed bid for US power generator InterGen, also wants to diversify away from its gaming business which contributes around 60% of its revenue. – Reuters  

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights

Next In Business News

Lucid to start deliveries of electric cars with range exceeding Tesla's in October
Saudi launches $13 bln plan to turn coastal region into tourism hub
Brent oil dips after topping US$80 a barrel, highest in nearly three years
BlackRock says it is dipping its toes back in to China after rout
GLOBAL MARKETS-Stocks fall, bond yields jump as rate hikes loom
Vote of confidence
Indonesia’s massive 2022 budget gets key approval
12MP: No short-term market excitement
PAAB may face cash flow deficit of up to RM235mil
Scomi Energy Q4 net loss narrows

Stories You'll Enjoy