Jaks to jointly develop RM7.05b Vietnam power plant

KUALA LUMPUR: Jaks Resources Bhd has signed several agreements with China Power Engineering Consulting Group Co Ltd (CPECC) to jointly develop a US$1.87 billion (RM7.02 billion) power plant project in Vietnam.
Jaks and CPECC, via a 50:50 joint venture in Jaks Power Holding Limited, will fully own project company Jaks Hai Duong Power Co Limited that will spearhead the project.
The 25-year build-operate-transfer project for a 1,200MW thermal power plant in Hai Duong province is Jak's maiden foray into power generation to generate stable and recurring concession-type earnings.
The construction of the power plant, which comprises of two 600MW generating units, is scheduled to begin in the first half of 2016 and commence commercial operations in 2020.