Tenaga Nasional Bhd’s (TNB) repair and maintenance arm TNB Repair and Maintenance Sdn Bhd (TNB Remaco) will set up a refurbishment and maintenance facility in India, its first outside Malaysia.
In a press statement, TNB said its unit was venturing into power plant operations and maintenance (O&M) in India through a collaboration with TNB’s 30%-owned GMR Energy Ltd (GEL). TNB completed the purchase of the 30% stake in the Indian power firm in November last year for US$300mil.
Under a three-year memorandum of understanding (MoU) inked with GEL on Monday, TNB Remaco and GEL will provide power plant O&M, performance improvement, testing and diagnostic services.
GEL will identify business opportunities for the collaboration as well as provide a suitable location for the facility.
Prior to the establishment of the facility in India, TNB Remaco will carry out refurbishments works at its facility in Malaysia.
TNB president and chief executive officer Datuk Seri Azman Mohd described the venture as a further manifestation of TNB’s drive for international expansion by leveraging on its strategic equity holding in GEL.
“With the current economic dynamism, India will be a bright spot in the global economy. We are taking a long term view in India and we aim to unleash our respective strengths to allow TNB to create a strong foothold and maximise opportunities inherent in the Indian power industry,” he said. Read More…
Credit By: The Star Online
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