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OTHERS TADMAX RESOURCES BERHAD ("TADMAX") ENGINEERING, PROCUREMENT, CONSTRUCTION AND COMMISSIONING ("EPCC") CONTRACT BETWEEN PULAU INDAH POWER PLANT SDN BHD (FORMERLY KNOWN AS TADMAX INDAH POWER SDN BHD), A WHOLLY-OWNED SUBSIDIARY OF TADMAX RESOURCES BERHAD, WITH CONSORTIUM OF POSCO E&C, MITSUBISHI CORPORATION AND POWERCON ("CONTRACTOR")

TADMAX RESOURCES BERHAD

Type Announcement
Subject OTHERS
Description
TADMAX RESOURCES BERHAD ("TADMAX")
ENGINEERING, PROCUREMENT, CONSTRUCTION AND COMMISSIONING ("EPCC") CONTRACT BETWEEN PULAU INDAH POWER PLANT SDN BHD (FORMERLY KNOWN AS TADMAX INDAH POWER SDN BHD), A WHOLLY-OWNED SUBSIDIARY OF TADMAX RESOURCES BERHAD, WITH CONSORTIUM OF POSCO E&C, MITSUBISHI CORPORATION AND POWERCON ("CONTRACTOR")

We refer to the announcements dated 3 August 2016, 28 July 2017, 13 November 2017, 30 July 2018, 14 September 2018, 28 March 2019, 11 September 2019, 3 January 2020 and 15 January 2020.

 

1. EPCC CONTRACT

 

Tadmax wishes to announce that today the Company’s wholly-owned subsidiary, Pulau Indah Power Plant Sdn Bhd (formerly known as Tadmax Indah Power Sdn Bhd), the special purpose vehicle of the Group undertaking the  development of the Combined-Cycle Gas Turbine Power Plant with capacity of 1,200MW at Pulau Indah, Selangor Darul Ehsan (“the Project”) has executed a EPCC Contract with the Contractor which is an unincorporated joint venture comprising:-

 

(a) POSCO ENGINEERING & CONSTRUCTION CO. LTD. (Company Registration No. 506-81-02280), a company incorporated in the Republic of Korea and having its place of business at Incheontowerdae-ro 241, Yeonsu-gu, Incheon-si, Korea;

 

(b) MITSUBISHI CORPORATION (Company Registration No. 0100-01-008771), a company incorporated in Japan and having its place of business at 3-1 Marunouchi, 2-Chome, Chiyoda-Ku, Tokyo, Japan; and

 

(c) PEC POWERCON SDN BHD (Registration No. 202001005734 (1362054-W), a company incorporated in Malaysia and having its place of business at Suite 18-6 Wisma UOA II, No. 21, Jalan Pinang, 50450, Kuala Lumpur, Malaysia.

 

The EPCC contract value forms part of the Project’s total cost expected at approximately RM3.3 billion.  The Project will be funded by a comprehensive fund raising exercise which will include proposed issuance of Sukuk along with other banking facilities.

 

For further details, kindly refer to the attachment.

 

This announcement is dated 13 March 2020.




Please refer attachment below.



Announcement Info

Company Name TADMAX RESOURCES BERHAD
Stock Name TADMAX
Date Announced 13 Mar 2020
Category General Announcement for PLC
Reference Number GA1-27022020-00085



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