Posco-Led Group Wins Malaysia CCGT Contract

A consortium of South Korea’s Posco E&C, Japan’s Mitsubishi and Malaysia’s PEC Powercon has been awarded a contract by Tadmax Resources to build a 1.2 GW gas-fired power plant (CCGT) on the Malaysian island of Pulau Indah, Tadmax said in a statement on March 13.

The value of the engineering, procurement, construction and commissioning contract, awarded by Pulau Indah Power Plant, a wholly-owned subsidiary of Tadmax, was not disclosed. But the project's overall cost is expected at around ringgit 3.3bn ($750mn). The plant should become operational by early 2024, Tadmax said.

Posco, which holds a 60% stake in the consortium, is responsible for design, procurement and construction; Mitsubishi will supply boilers and turbines, and PEC Powercon will undertake the commissioning work.  

In a separate statement, Tadmax said it had entered into an agreement with Worldwide Holdings to sell a 35% stake in Pulau Indah Power Plant for ringgit 58.45mn.