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RHB Group to part finance coal-fired power plant in Johor
by hlk Thu 01 Mar 2012, 18:36
KUALA LUMPUR: RHB Bank and RHB Investment Bank will jointly raise RM1.38 billion to part finance the development, construction and operation of a new coal-fired power plant in Tanjung Bin, Johor.
The 1,000 Megawatt power plant, which requires total financing of more than RM6.0 billion, is managed by Tanjung Bin Energy Issuer Bhd, a subsidiary of Malakoff Corporation Bhd.
Malaysia's energy demand is projected to grow at 3.4 per cent, annually, given the large number of big-scale infrastructure and construction projects proposed under the 10th Malaysia Plan, said RHB in a statement today.
It said with the addition of the coal-fired power plant in Tanjung Bin to the grid, along with the inclusion of other power plants that are due soon, electricity reserve margin was expected to be maintained at an acceptable level.
“We are proud of the RHB Banking Group's ability to assist Malakoff in the financing of such an esteemed project that is of national significance,” RHB Bank Corporate Banking Division director Mike Chan was quoted as saying in the statement. - BERNAMA
The 1,000 Megawatt power plant, which requires total financing of more than RM6.0 billion, is managed by Tanjung Bin Energy Issuer Bhd, a subsidiary of Malakoff Corporation Bhd.
Malaysia's energy demand is projected to grow at 3.4 per cent, annually, given the large number of big-scale infrastructure and construction projects proposed under the 10th Malaysia Plan, said RHB in a statement today.
It said with the addition of the coal-fired power plant in Tanjung Bin to the grid, along with the inclusion of other power plants that are due soon, electricity reserve margin was expected to be maintained at an acceptable level.
“We are proud of the RHB Banking Group's ability to assist Malakoff in the financing of such an esteemed project that is of national significance,” RHB Bank Corporate Banking Division director Mike Chan was quoted as saying in the statement. - BERNAMA
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