Ranhill to buy owner of Philippine power plant
RANHILL Bhd has entered into an agreement to buy YNN Pacific Consortium Inc of the Philippines for US$8 million (RM29.28 million) and to subscribe for new shares in YNN.
The agreement will result in Ranhill owning a 600 megawatts coal-fired thermal power plant in Masinloc, Zambales, Philippines.
Ranhill will help raise US$227.54 million (RM832.79 million) funds internally to pay for the power plant, which is expected to play a significant role in further developing it's presence in the power business.
Ranhill said the proposal is in tandem with its corporate vision of increasing its power generation capacity to 1,000MW by 2009.
When completed Ranhill's power division will increase its net attributable capacity by 500 per cent to 720MW, from its current 120MW. btimes.com
The agreement will result in Ranhill owning a 600 megawatts coal-fired thermal power plant in Masinloc, Zambales, Philippines.
Ranhill will help raise US$227.54 million (RM832.79 million) funds internally to pay for the power plant, which is expected to play a significant role in further developing it's presence in the power business.
Ranhill said the proposal is in tandem with its corporate vision of increasing its power generation capacity to 1,000MW by 2009.
When completed Ranhill's power division will increase its net attributable capacity by 500 per cent to 720MW, from its current 120MW. btimes.com
posted by OlongapoCity Zambales at
7:55 AM
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