Tadmax, Worldwide team up for power plant project

KUALA LUMPUR: Tadmax Resources Bhd has signed a memorandum of understanding (MoU) with Selangor state-linked company Worldwide Holdings Bhd for the development of a 1,000-1,200 MW combined cycle gas turbine power plant in Pulau Indah.

Tadmax, in a filing with Bursa Malaysia yesterday, said subject to the Energy Commission’s approval, Worldwide intended to secure 30% equity interest in the project company, Tadmax Indah Power Sdn Bhd (TIP).

“The collaboration on TIP’s equity in the MoU between Tadmax and Worldwide is subject to and to be in accordance with the Selangor government’s directives,” it said. — Bernama