KUALA LUMPUR: Tadmax Resources Bhd has got official government approval to build a 1,000 MW combined cycle gas-fired power plant in Pulau Indah, Selangor.
The property developer and commodities trader said on Wednesday it had received a letter of award from the Energy Commission for the plant which will be built on its own land.
Tadmax said the letter of award would hinge on finalising the terms of the agreement relating to the project with relevant parties and further subject to changes arising from negotiations prior to submission to Energy Commission.
“In line with the decision of the government, Tenaga Nasional is to be invited to participate in the project. The board of Tadmax will be deliberating and studying the letter of award,” it said.
On July 23, Tadmax, which subscribed for 55% stakein property developer Wawasan Metro Bina Sdn Bhd (WMB) at par for RM550,000 in March, is acquiring the remaining interest from three corporate entities for RM42mil.
It had signed an agreement to buy the other 45% stake from three Inas Angkasa Sdn Bhd, Impiria Jaya Sdn Bhd and Global Showcase Sdn Bhd to gain complete control of WMB’s operations as well as its future strategic directions.
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