Ran­hill se­cures ap­proval for Sabah power plant

The Sun (Malaysia) - - SUNBIZ -

PE­TAL­ING JAYA: Ran­hill Hold­ings Bhd has ob­tained ap­proval from the gov­ern­ment for the pro­posed de­vel­op­ment of a 300MW com­bined cy­cle gas tur­bine power plant in Sabah.

In a fil­ing with Bursa Malaysia yes­ter­day, Ran­hill said it re­ceived a let­ter dated Sept 29, 2016 from the En­ergy Com­mis­sion (ST) no­ti­fy­ing it of the gov­ern­ment’s de­ci­sion to ap­prove the pro­posal, which was sub­mit­ted to the En­ergy, Green Tech­nol­ogy and Wa­ter Min­istry.

The pro­posal was sub­mit­ted by a con­sor­tium of pri­vate com­pa­nies. Ran­hill has 50% eq­uity in­ter­est in one of the pri­vate com­pa­nies.

The con­sor­tium has been in­structed to be­gin ne­go­ti­a­tions with Petro­liam Na­sional Bhd and the com­pany iden­ti­fied by the gov­ern­ment, to de­velop the Tran­sSabah Gas Pipeline, to as­cer­tain the terms and con­di­tions of the gas sup­ply re­quired for the project. The ST will is­sue a let­ter of award af­ter the terms of the gas sup­ply agree­ment are de­ter­mined.

The com­pany said it will make the nec­es­sary an­nounce­ments on ma­te­rial de­vel­op­ments in re­la­tion to the project.

Trad­ing in Ran­hill’s shares was sus­pended from 9am till 10am yes­ter­day for the an­nounce­ment. Its stock rose half a sen yes­ter­day, clos­ing at 97.5 sen with 210,400 shares traded.

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