Power plants with Malaysia and South Korea caught in impasse

Shanchita Shitu
Published : 00:18, Dec 05, 2018 | Updated : 00:21, Dec 05, 2018

Power plants with Malaysia and South Korea caught in impasseThough four years have passed after signing agreements with Malaysia and South Korea to construct coal powered power plants, the Power Development Board, PDB, has not managed to sign a contract for joint capital companies.
In the last two years, approval was given for the construction of 3000 megawatt power plant to be run by highly priced liquid fuel. This will only raise the price of power, specialists say.
Even after four years, PDB could not form a joint company with Malaysian Tenega National Barhead. The memorandum of understanding was signed on Sept 22, 2014. As per that memorandum, a joint capital company was supposed to have been formed.
A power department official says that initially the decision was to work with Tenega, later, however, there was discussion about giving fifty percent of the work to Powertek Malaysia.
This has resulted in the delay, added the official.
A similar lethargy is noticed in the agreement signed with South Korea.
As per the MoU signed on Aug 17, 2016, Korean company KEPCO and PDB took the initiative to construct a 320 megawatt plant though the joint capital company has not been formed as yet.