Media & Downloads
Press Releases

22 March 2005

BID FOR 60% EQUITY INTEREST IN SHOIBA PHASE 3 INDEPENDENT AND POWER PROJECT

Khazanah Nasional Berhad (“Khazanah”), Tenaga Nasional Berhad (“TNB”) and Malakoff Berhad (“MB”) are pleased to announce that together with Arabian Company for Water And Power Projects Limited (“ACWA”) (the “Bidder Consortium”) they have submitted a bid for a 60% equity interest in the Shoaiba Phase 3 Independent Water and Power Project in the Kingdom of Saudi Arabia, (“KSA”) (the “Project”) on 5th March 2005.

If the Bidder Consortium is successful in its bid, Khazanah will together with TNB and Malakoff form a Malaysian Consortium Company to invest in the Bidder Consortium.

The interests of the parties in the Malaysian Consortium are as follows:

Consortium members

Percentage of equity Interest in the Malaysia Consortium Company

Percentage of effective shareholding in Bidder Co

Khazanah

40

20

Malakoff

40

20

TNB

20

10

The Bidder Co will hold a 60% interest in the company to undertake the Project whilst the balCflce will be held by agencies of the Government of KSA.

The Project, to be developed on a Build Own and Operate basis, will be located adjacent to the existing Shoaiba generation and desalination complexes 110 km south of Jeddah, on the western Red Sea coast of Saudi Arabia. The indicative project timetable is for construction to commence towards end-200S with Project Commercial Operation Date scheduled 3 years later.

This will be the first Independent Water and Power Project to be developed under the privatization program in the Kingdom of Saudi Arabia and represents a major development in the country’s water and power sector.

ACWA, Malakoff and TNB will be incorporating a limited liability company in KSA to undertake the operations and maintenance for the Project.

Details of the bid will be announced at the appropriate juncture.

This Announcement is dated 22 March 2005.



Other Press Releases
12 September 2023

Khazanah and Khazanah Research Institute, in colla...

Read more  

27 July 2023

Khazanah Stands Ready to Support “Ekonomi MADANI...

Read more  

25 July 2023

Khazanah Impact Innovation Challenge 2023 Calls fo...

Read more  

13 July 2023

Global Venture Capital Firm Antler Partners With K...

Read more  

27 June 2023

Khazanah spearheads green investment platform to a...

Read more  

6 June 2023

Khazanah invests in homegrown full-stack InsurTech...

Read more  

25 May 2023

Khazanah reopens Malaysia’s USD Sukuk and Bond M...

Read more  

27 April 2023

Khazanah assigned A3/A- by International Credit Ra...

Read more  

19 April 2023

Khazanah leads concerted efforts to uplift PPR com...

Read more  

9 April 2023

Iskandar Malaysia Studios attracts foreign investm...

Read more