PETALING JAYA: Tenaga Nasional Bhd (TNB) has signed two agreements worth some RM2.15bil for its Ulu Jelai hydroelectric project.
The company said the first agreement was with SMEC International Pty Ltd and SMEC (M) Sdn Bhd consortium, which would provide detailed engineering design for the main civil works, engineering design review for electrical and mechanical works, project management and site supervision.
The contract value was A$22.1mil and RM31.1mil, which was equivalent to RM99.6mil at the prevailing exchange rates, it told Bursa Malaysia yesterday.
The second agreement is with Tindakan Mewah Sdn Bhd and Salini Costruttori SpA consortium. Under this contract, the consortium will be responsible for the main civil, electrical and mechanical works.
The main civil works consist of the construction of a dam, two water-transfer tunnels and an underground power house.
TNB said the electrical and mechanical works involved the design, manufacture, erection, testing and commissioning of two power generation plant, each with a capacity of 186MW, and the associated electrical and mechanical equipment.
It said the value of the second contract was 307 million euros and RM818.1mil, which was equivalent to RM2.05bil at the prevailing exchange rates.
The company said the contract period for the development of the Ulu Jelai hydroelectric project was five years, during which the payment to the contractors would be made in accordance with the progress.
The project cost will potentially result in an increase in TNB's net assets by about 7.1%.
TNB said the project was expected to be completed by July 2016.
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