Tadmax plans to develop a RM3.3bil 1,200MW combined-cycle gas turbine power plant on Pulau Indah in Selangor.
PETALING JAYA: Tadmax Resources Bhd plans to sell a 25% stake, comprising 12.5 million shares, in its wholly owned subsidiary Pulau Indah Power Plant Sdn Bhd (PIPP) to South Korea’s largest electric utility, Korea Electric Power Corp (Kepco), for RM41.75mil.
The proposed disposal is in line with the heads of agreement signed in 2018 with both Kepco and Selangor state-linked Worldwide Holdings Bhd for the development of a RM3.3bil 1,200MW combined-cycle gas turbine power plant on Pulau Indah in Selangor.
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