Malaysia firm wants to set up coal-based power plant
FE Report | Friday, 18 July 2008
A Malaysian company has proposed to establish a coal-based power plant with a capacity to generate 1600 megawatts (MW) in the country, said a senior BoI official Thursday.
He said Malaysian conglomerate --Sumatec Corporation SDN BHD-- has submitted the proposal through its Asset Management Company last week.
It has sent the proposal to the Board of Investment (BoI) and the Ministry of Power, Energy and Mineral Resources.
"We have decided to invite the Malaysian company to discuss its entire project proposal," a senior BoI official said.
He said the company in its proposal sought to establish the plant under International Power Producer (IPP) system and Build, Own, Operate and Transfer (BOOT) basis.
The official said: "We have gone through the company's profile. It is too early to make any comment about the company, but its track record seems impressive."
When contacted, a senior power ministry official said it welcomes any investment offer in power sector from anywhere of the world as there is a huge shortfall in power generation.
"We are generating around 4000 MW of power against the demand for 5000 MW on an average a day," he said.
Under such circumstances, the official said, the offer of the Malaysian company is very important.
The Malaysian conglomerate that has already invested in Cambodia, Singapore, Sudan, Cameroon, Vietnam, Azerbaijan and the Maldives is planning to invest in Bangladesh as part of its worldwide business expansion plan.
A sector insider said the offer of the Malaysian company is one of the largest foreign investment proposals in the country's power sector.
Earlier, Indian business conglomerate Tata, UK based Asia Energy and Mittal and Korea based Luxon Global offered to invest in the country's power sector.
Sumatec Corporation SDN BHD, listed on the Bursa Malaysia Securities Berhad (formerly known as Kuala Lumpur Stock Exchange), will be invited to explain its project proposal, a power official also said.
He said: "We will ask the company to submit a detailed proposal so that we can understand the importance of the offer compared to those made by others earlier."
He said Malaysian conglomerate --Sumatec Corporation SDN BHD-- has submitted the proposal through its Asset Management Company last week.
It has sent the proposal to the Board of Investment (BoI) and the Ministry of Power, Energy and Mineral Resources.
"We have decided to invite the Malaysian company to discuss its entire project proposal," a senior BoI official said.
He said the company in its proposal sought to establish the plant under International Power Producer (IPP) system and Build, Own, Operate and Transfer (BOOT) basis.
The official said: "We have gone through the company's profile. It is too early to make any comment about the company, but its track record seems impressive."
When contacted, a senior power ministry official said it welcomes any investment offer in power sector from anywhere of the world as there is a huge shortfall in power generation.
"We are generating around 4000 MW of power against the demand for 5000 MW on an average a day," he said.
Under such circumstances, the official said, the offer of the Malaysian company is very important.
The Malaysian conglomerate that has already invested in Cambodia, Singapore, Sudan, Cameroon, Vietnam, Azerbaijan and the Maldives is planning to invest in Bangladesh as part of its worldwide business expansion plan.
A sector insider said the offer of the Malaysian company is one of the largest foreign investment proposals in the country's power sector.
Earlier, Indian business conglomerate Tata, UK based Asia Energy and Mittal and Korea based Luxon Global offered to invest in the country's power sector.
Sumatec Corporation SDN BHD, listed on the Bursa Malaysia Securities Berhad (formerly known as Kuala Lumpur Stock Exchange), will be invited to explain its project proposal, a power official also said.
He said: "We will ask the company to submit a detailed proposal so that we can understand the importance of the offer compared to those made by others earlier."