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