Tadmax jumps 4.11% on partnership with Kepco

PETALING JAYA: Tadmax Resources Bhd's share price jumped 4.11% this morning, following its partnership with Korea Electric Power Corp (Kepco) for a new 1,000MW combined cycle gas-fired power plant in Pulau Indah, Selangor.
At 10.34am, the stock which was among the most active counters, stood at 38 sen with 6.6 million shares changing hands. Tadmax has a market capitalisation of RM207.19 million.
The project will be undertaken via a project company named Tadmax Indah Power Sdn Bhd.
The group told the stock exchange that the two parties have formed a consortium for the project which will sit on Tadmax's own piece of land in Pulau Indah.
The consortium which will be led by Tadmax, will work and prepare the Technical and Financial Proposals needed for submission to the Energy Commission (ST) by Aug 1, 2018.