Ranhill and Thai partner plan power plant project

  • Business
  • Thursday, 21 Feb 2019

PETALING JAYA: RANHILL HOLDINGS BHD and its Thai partner Treasure Specialty Co Ltd (TS Co) are looking into the possibility of setting up of a 1,150MW power plant in Kedah and exporting it to southern Thailand.

Ranhill’s board had approved the proposed collaboration with TS Co to build and operate the combined cycle gas turbine power plant, it said in a filing with Bursa Malaysia.

TS Co is the adviser for Ranhill’s Thai water businesses and moving forward, it will jointly develop and co-invest with Ranhill in new water concessions in Thailand.

“TS Co will be the co-promoter of the project with Ranhill and take the lead in project development aspect on the Thailand side,” it said.

Ranhill said the proposed project, utilising existing infrastructure for gas-fired power plant will be able to provide a cost competitive solution to the provision of clean electricity power to the provinces of southern Thailand.

The power will be dispatched through a dedicated transmission line with interconnection to a substation in Thailand.

Both parties have agreed to explore the collaboration on an exclusive basis for six months based on their respective expertise and resources.

TS Co and its group of investors, may subscribe up to 30% of the interest in the project while Ranhill may subscribe to no less than 70% interest. Both parties will source for their own equity injection and may source for additional investors.

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