PETALING JAYA: Ranhill Holdings Bhd and its water business’ adviser in Thailand, Treasure Specialty Co Ltd (TS Co), are planning to explore collaboration to propose the development of a 1150MW gas-fired combined cycle gas turbine (CCGT) power plant project in Kedah.
Ranhill told the stock exchange today that the parties have agreed to explore the collaboration on an exclusive basis based on their respective expertise and resources, with the intention to export the entire power generated from the power plant to Thailand.
TS Co and its group of investors may subscribe up to 30% of the interest in the project, whereas Ranhill may subscribe to no less than 70% interest in the project.
Both parties will be responsible to source for its own equity injection and may source for additional investors, Ranhill added.
The parties believe that the proposed project, utilising existing infrastructures for gas-fired CCGT, will be able to provide a cost competitive solution to the provision of clean electricity power to the provinces of Southern Thailand.
Ranhill said the discussion and collaboration is for a period of six months from the date of the collaboration agreement, but may be extended by the parties.
The project is subject to approval from relevant authorities in both Malaysia and Thailand, it added.
