KUALA LUMPUR: Malaysia Airports Holdings Bhd (MAHB) and Tenaga Nasional Bhd (TNB) have inked a privatisation concession agreement to the tune of RM399 million for a project at the new low-cost carrier terminal at the Kuala Lumpur International Airport.
The concession is for the privatisation of the development of a 132kV sub-station and a district cooling plant for the supply of chilled water and electricity and associated works at the new low-cost carrier terminal.
TNB’s wholly-owned subsidiary TNB Engineering Corp Sdn Bhd (TNEC) had executed the concession agreement via its wholly-owned subsidiary Airport Cooling Energy Supply Sdn Bhd with MAHB.
The agreement is based on a build-operate-transfer model for a concession period of up to 20 years.
In a filing with Bursa Malaysia, MAHB said the project known as the KLIA2 Generation Plant project will cost approximately RM388 million and will be funded through external borrowings by Airport Cooling Energy (which amounts to approximately 80% of the total project cost) while the balance will be funded by shareholders equity.
Apart from the concession agreement, Airport Cooling Energy, TNEC and MAHB had also executed a shareholders agreement, whereby MAHB will take up a 23% stake in Airport Cooling Energy and TNB 77%.
“The objective of the joint venture is for TNEC and MAHB to jointly undertake the KLIA2 generation plant project through Airport Cooling Energy for the tenure of concession of 20 years,” said MAHB.
This article appeared in The Edge Financial Daily, October 28, 2011.
The concession is for the privatisation of the development of a 132kV sub-station and a district cooling plant for the supply of chilled water and electricity and associated works at the new low-cost carrier terminal.
TNB’s wholly-owned subsidiary TNB Engineering Corp Sdn Bhd (TNEC) had executed the concession agreement via its wholly-owned subsidiary Airport Cooling Energy Supply Sdn Bhd with MAHB.
The agreement is based on a build-operate-transfer model for a concession period of up to 20 years.
In a filing with Bursa Malaysia, MAHB said the project known as the KLIA2 Generation Plant project will cost approximately RM388 million and will be funded through external borrowings by Airport Cooling Energy (which amounts to approximately 80% of the total project cost) while the balance will be funded by shareholders equity.
Apart from the concession agreement, Airport Cooling Energy, TNEC and MAHB had also executed a shareholders agreement, whereby MAHB will take up a 23% stake in Airport Cooling Energy and TNB 77%.
“The objective of the joint venture is for TNEC and MAHB to jointly undertake the KLIA2 generation plant project through Airport Cooling Energy for the tenure of concession of 20 years,” said MAHB.
This article appeared in The Edge Financial Daily, October 28, 2011.
