M & A Securities tips Tenaga, Malakoff to be prime candidates for coal-fired power plant

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Muhammad Nizar Zulkifli
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KUALA
LUMPUR (April 19): M & A Securities Research says it expects the
consortiums which were led by Tenaga and Malakoff to be the prime candidates
for a 2,000MW coal-fired power plant project, after the Energy Commission shortlisted
five consortiums on Thursday to take part in the tender exercise for the
2,000MW coal-fired power plant to be developed at their own sites.

“We expect the consortiums which were led by
Tenaga and Malakoff to be the prime candidates for the 2,000MW coal-fired power
plant project (Track Project 3B) due to their experience in operating coal-fired
power plant in Malaysia,” the research house said in a note Friday.

It said Tenaga has existing coal-fired power
plant in Manjung (2,100MW) while Malakoff’s has a coal-fired power plant in
Tanjung Bin (2,100MW).

“Meanwhile, YTL Power and 1MDB are only engaged
in gas-fired combined cycle power plants and gas turbines power plant.

“However, we believe the other criteria that EC may
consider to award this project are based on the most competitive rates offered
by the consortiums, it said.

The
Energy Commission, had on its website on Thursday, said it had completed the
evaluation of seven RFQ submissions and shortlisted five. They are; i)
1Malaysia Development Bhd and Mitsui & Co. Ltd.; ii) Formis Resources Bhd,
SIPP Energy Sdn Bhd, Posco Energy and Posco Engineering & Construction Co.
Ltd.; (iii) Tenaga Nasional Bhd, Global Power Ventures Sdn Bhd and China
National Machinery Import & Export Corp.; iv) Malakoff Corporation Bhd and
Sumitomo Corp.; v) YTL Power International Bhd and Ranhill Power Sdn Bhd.

The
Energy Commission said the RFP document was expected to be released on April 23
and the invitation letters would be issued shortly.

The
closing date for the bid would be Sept 30, 2013.