28-03-2008: Leader signs 30-year PPA in Cambodia
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LUMPUR: Leader Universal Holdings Bhd's upcoming 200MW coal-
fired power plant in Cambodia will supply electricity to state-owned
Electricite du Cambodge (EDC) under a 30-year power purchase agreement
(PPA).
Leader told Bursa Malaysia it had also signed an implementation
agreement with the Cambodian Industry, Mines and Energy Ministry for
the project. The deals were inked yesterday.
"Discussions are still ongoing with the turnkey contractor on the
engineering, procurement and construction works. The financial adviser
is also in the midst of making the necessary arrangement on the
project financing," Leader said.
Both agreements followed a joint venture (JV) deal between Leader and
MKCSS Holdings Co Ltd in November 2006 to bid for the electricity
project in Sihanoukville.
The Cambodian government had awarded the job to both companies in
February 2007, and subsequently a JV company, Power Synergy
Cor****ation Co Ltd (PSC), was formed to undertake the project.
Under the PPA, PSC will build four 50MW coal-fired electricity
generators, and a double-circuit 230 kV transmission line. The base
tariff has been fixed at US$0.07212 (23 sen) per kilowatt-hours with
indexation.
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