Japan's
Marubeni Corp has agreed to acquire a minority stake in a Malaysian company
that owns and operates major power generation and transmission facilities in
Cambodia.
Under
the agreement announced Monday, the trading company giant will obtain 20% of
Leader Infrastructure Ltd, a unit of Penang-based Leader Universal Holdings
Bhd, the largest cable and wire producer in Southeast Asia.
This
is the first time for a Japanese company to participate in the Cambodian power
market. This is a "strategic partnership" with the Malaysian company
in Cambodia. Marubeni envisages expanding its power business in Cambodia
utilizing its extensive knowledge and experience from its worldwide
participation in the power industry. Established in the Cayman Islands in 2007,
Leader Infrastructure owns Cambodian Energy Ltd, which operates two 50 MW
coal-fired power stations in Sihanoukville. It also owns Cambodian Transmission
Ltd which operates the transmission line and substation between Kampong Cham
and northern Phnom Penh. Both projects began commercial operations last year.
Marubeni
noted that the Leader Group was a pioneer as a foreign independent power
producer in Cambodia, having operated a 35 MW diesel-engine power plant since
1997. The Japanese company said its investment was being made through Leader
Group company HGN Capital Sdn Bhd.
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