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TNB unit plans to raise RM4b via sukuk for Project 4A

Mimi Sabreena 8:55:00 PM Informasi

KUALA LUMPUR (Sept 14): Tenaga Nasional Bhd (TNB) announced that its 51%-owned Southern Power Generation Sdn Bhd plans to raise RM4 billion via the issuance of sukuk, which will have a tenure of up to 20 years.

According to TNB, proceeds of the sukuk will be used by Southern Power Generation to fund up to 80% of the total construction cost of the 2X720MW combined-cycle gas turbine power plant in Pasir Gudang, Johor, previously code-named Project 4A.

It was previously reported that the project will cost some RM4.7 billion.

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