KAB makes foray into hydro power sector in Indonesia

KUALA LUMPUR: Kejuruteraaan Asastera Bhd's (KAB) subsidiary KAB Energy Holdings Sdn Bhd has entered into a term sheet agreement with Sarawak Cable Bhd to acquire the entire issued share capital of PT Inpola itra Elektrindo (PT IME).

In a statement, KAB said PT IME has an existing power purchase agreement to supply electricity to PT Perusahaan Listrik Negara, the state-owned utility company in Indonesia, for a concession period of 20 years.