Regional: JAKS in joint venture to build coal-fired power plant in Vietnam
Tuesday, January 10 2012 - 01:42 PM WIB
JAKS Power Holding limited (JPH), a wholly owned subsidiary of Malaysian company JAKS Resources Bhd, announced plans to invest in a 2 X 600 megawatt coal-fired thermal power plant in Vietnam in a proposed joint venture with Meiya Power Limited (HD) and Island Circle Investment Holding Limited.
Under the proposed joint venture, JPH, HD and Island Circle Investment Holding Ltd formed a 80-10-10 joint venture in JAKS Pacific Power Ltd (JPP).
JPP is the holding company for Jaks Hai Duong Power Ltd (JHDP) that will undertake the investment in the coal-fired thermal power plant in Hai Duong Province, Vietnam.
The project, which was valued at US$2 billion, would be financed 75 percent by debt (of $1.5 billion) and 25% by equity.
The project is slated to be commenced on the second quarter of 2012 that would generate the first unit of 600 MW in fourth quarter of 2016 and the second unit of 600 MW will come on stream in the second quarter of 2017, together with an estimated annual output of 7.5 billion kilowatt-hours per annum.