THE WHO WHAT WHEN

Kimanis Powe Plant project (Sabah new 300-megawatt power plant)

25 November 2008

Who

Petronas Gas (60%) and Yayasan Sabah (40%) jv. Expected bidders are those with expertise, such as Japan's Sumitomo and Mitsubishi, Germany's Siemens and France's Alstom.

What

1) To develop, operate and maintain the proposed 300-megawatt gas-fired power plant and its related facilities and infrastructure. A jv company fill be formed by the partners.

2) To undertake the sale and delivery of electricity from the proposed power plant

When

2009 - subjected to the satisfaction of certain conditions precedent including the execution of a Gas Sales Agreement by the JVC with a third party for the purchase of Natural Gas for the Power Plant, the execution of a Power Purchase Agreement with a third party for the sale of electricity to be produced by the Power Plant as well as the approval of relevant authorities.

Where

Kimanis, District of Papar, Kota Kinabalu Sabah.

Why

To meet a growing power demand in Sabah.

TNB was supposed to build a 300MW coal-fired power plant in Lahad Datu to stabilise the Sabah Grid on the east coast, but it was scrapped by the Sabah state government.

How

Petronas Gas will have a 60 per cent stake in the joint venture, the remaining 40 per cent will be held by Yayasan Sabah (a government foundation).

Petronas Gas Bhd is expected to call bids for the main contract to build a RM900 million power plant in Sabah as early as March or May next year (2009).

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