Thursday 28 Mar 2024
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KUALA LUMPUR: Tenaga Nasional Bhd’s (TNB) 1,071mw combined-cycle power plant in Seberang Perai, Penang, is on track for commercial operation on Jan 1, 2016.

The RM2.5 billion project, utilising the world’s largest and most efficient gas turbine (Siemens H-class), is currently 94% complete, TNB (fundamental: 1.3; valuation: 1.8) said in a statement yesterday.

One of the project’s major milestones involved “back energisation” which took effect last Friday, added TNB, noting this enabled pre-commissioning and testing works on various subsystems.

The power plant was built on the same site as TNB’s decommissioned Prai Power Station.

Construction work commenced on May 2, 2013, after TNB and its partner Samsung Engineering & Construction beat 18 other international bidders to build, own and operate a 1,000mw to 1,400mw power plant. Samsung is the engineering, procurement and construction contractor of the project.

TNB shares closed 8 sen or 0.54% lower at RM14.64 yesterday, giving it a market capitalisation of RM83.07 billion.


The Edge Research’s fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations. Go to theedgemarkets.com for more on a company’s financial dashboard.

This article first appeared in The Edge Financial Daily, on March 6, 2015.

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