Malakoff starts arbitration proceedings
Published on: Thursday, November 24, 2016
Kuala Lumpur: Malakoff Corp Bhd's unit, Tanjung Bin Power Sdn Bhd (TBP), has commenced arbitration proceedings against three companies in respect of loss and damaged amounting to RM785 million it suffered.In a filing to Bursa Malaysia Wednesday, the utility company said, the firms were Sumitomo Corp, Zelan Holdings (M) Sdn Bhd and Sumi-Power Malaysia Sdn Bhd.It said TBP is and was at all material times, the owner of the Tanjung Bin Power plant, a power station consisting of three 700-megawatt coal-fired plants.
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Malakoff said the companies were engaged to provide TBP with and TBP relied on them for the engineering, design, procurement, construction, commissioning and related services in respect of, among others, the plant and its related facilities (EPCC contract).Stay up-to-date by following Daily Express’s Telegram channel.
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