KAB-PETRONAS Gas to co-own RM230mil Sabah power plant

From left: KAB director cum COO (SES Division Jonathan Wu Jo-Han, KAB group managing director Datuk Lai Keng Onn, KAB chairman Datuk Dr Ong Peng Su, PETRONAS Gas Bhd (PGB) managing director/ CEO Abdul Aziz Othman, Regas Terminal (Lahad Datu) Sdn Bhd (RGTLD) director Hisham B Maaulot, PGB chief financial officer Shahrul Azham B Sukaiman and PGB head of legal Tengku Mazura Tengku Ismit.

KUALA LUMPUR: Kejuruteraan Asastera Bhd (KAB) and Petronas Gas Bhd have entered into a joint venture to co-own and undertake a RM230 million power plant project in Sabah which will be the sole energy supplier to Petronas’ nearshore floating liquified natural gas facility.

KAB’s wholly-owned subsidiary KAB Energy Holdings Sdn Bhd has signed a share purchase agreement to acquire a 10 per cent stake in Petronas Gas’ subsidiary, Regas Terminal (Lahad Datu) Sdn Bhd, which is responsible for owning and undertaking the power plant project, a statement from KAB said today.