KAB group MD Lai said that jointly owning and undertaking this major clean energy project with PetGas highlights their capabilities in the sustainable energy solutions space.
KUALA LUMPUR: Kejuruteraan Asastera Bhd (KAB) and Petronas Gas Bhd
(PetGas) have entered into a joint venture to co-own and undertake a RM230mil power plant project in Sabah which will be the sole energy supplier to Petroliam Nasional Bhd’s (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% stake in PetGas’ subsidiary, Regas Terminal (Lahad Datu) Sdn Bhd, which is responsible for owning and undertaking the power plant project, the company said in a statement yesterday.
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