TNB and WIDAD to build a natural gas power station in Jiapu Nanyang Fri, Oct 21, 2022 06:41pm - 1 hour
KUALA LUMPUR (Dec 21): A subsidiary of National Energy (TENAGA, 5347, Main Board Utilities Stock) has received a letter of intent from the Ministry of Energy and Natural Resources to join forces with a subsidiary of Widad Group (WIDAD, 0162, Growth Enterprise Market) to establish a joint venture in Selangor. Pu construction of a natural gas combined cycle power plant with a power generation capacity of 2,100 megawatts (MW).
According to the statement, the investment required for the above-mentioned power station project is estimated to be RM9.5 billion, which is expected to generate earnings before interest and tax (EBIT) of around RM400 million per annum upon completion. The above-mentioned power station will use clean energy technology and target commercial operation in 2031.
TNB Power Generation and a subsidiary of the Widad Group will set up a joint venture to carry out the above-mentioned power plant project. TNB holds 60% and Widad Group holds 40%.
Selangor Kapu Natural Gas Combined Cycle Power Station TNB and Widad Group jointly build a natural gas combined cycle power station in Kapu, Selangor.
Responding to the Zero Carbon Plan
TNB president and chief executive Datuk Baharin Dinh said this is part of the company's plan to advance the energy transition and support the government's vision of a "carbon neutral country" and the national energy policy.
"In order to achieve the 2050 net-zero carbon emissions plan, TNB will gradually phase out coal-fired power plants and replace them with more efficient natural gas-fired power plants."
In addition, Datuk Noor Azman, managing director of the National Energy Power Generation Company, said that the above-mentioned natural gas power station can avoid 4.7 million tons of carbon dioxide emissions per year in the future, which is equivalent to the annual emission of 1 million cars.
Why is TNB Power Generation not doing the power plant project on its own?
I am sure TNB Power Generation has all the necessary technical as well as financial capabilities to do it on its own without having to go into any form of joint venture.
☝️please use the above to check where you will cast your vote. Just key in your IC number. This include those new voters ( above 18 years old) to check your eligibility to vote including where to vote. Spread this to friends and relatives.
The RM40 billion Widad Langkasuka mixed-use development in Langkawi, Kedah, is intended to be a tourism destination built on the paradigm of "Malay vernacular architecture" - based on the archipelago's history of designs that integrate green and eco-friendly native tropical features.
Widad Langkasuka will establish a smart city using sustainable technology that preserves the island's geographical nature and rich cultural heritage, to complement the integrated development's homes, businesses, educational facilities, and medical hub.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Michael R.
4,827 posts
Posted by Michael R. > 2022-10-20 15:00 | Report Abuse
Development Budget : https://www.theedgemarkets.com/article/budget-2023-impact-market-expected-be-muted-construction-sector-seen-benefit