KUALA LUMPUR: MMC Corp Bhd shares rose in early trade on Tuesday, June 14 on its subsidiary Malakoff Corporation Bhd's unit accepting an offer to build a 1,000MW coal-fired plant next to the current Tanjung Bin power plant.
At 9.05am, MMC Corp was up three sen to RM2.74 with 4,800 shares traded.
MMC Corp said Malakoff had accepted a conditional offer made by the government to develop the plant and the expected commercial operation date was March 1, 2016.
Malakoff is MMC Corp's 51%-owned subsidiary, whose unit Tanjung Bin Power Sdn Bhd owns the Tanjung Bin power plant.
MMC Corp said among the conditions in the offer by the government via the Energy Commission were the finalisation of the terms of the agreements relating to the project; and the approval of the detailed environmental impact assessment from the Department of Environment Malaysia.
At 9.05am, MMC Corp was up three sen to RM2.74 with 4,800 shares traded.
MMC Corp said Malakoff had accepted a conditional offer made by the government to develop the plant and the expected commercial operation date was March 1, 2016.
Malakoff is MMC Corp's 51%-owned subsidiary, whose unit Tanjung Bin Power Sdn Bhd owns the Tanjung Bin power plant.
MMC Corp said among the conditions in the offer by the government via the Energy Commission were the finalisation of the terms of the agreements relating to the project; and the approval of the detailed environmental impact assessment from the Department of Environment Malaysia.
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