MUDAJAYA GROUP BERHAD
Left 3 years, Right 3 years. Finally the geese has started laying golden eggs!I caught this golden goose.
In October 2015, i wrote about mudajaya after reading Angel's report as per link below
http://klse.i3investor.com/blogs/mudajaya/83177.jsp
Despite lot of "rumous" spreading in the forum saying that RKM powergen Unit 1 & 2 have been ready months ago, the management of Mudajaya didn't make any annoucement.
Then only on 17 March, they put out this annoucement:
OTHERS MUDAJAYA GROUP BERHAD ("MUDAJAYA") R.K.M Powergen Private Limited : 4 x 360 MW Coal Based Independent Power Plant Project in India ("IPP Project")
| MUDAJAYA GROUP BERHAD |
| Type | Announcement |
| Subject | OTHERS |
| Description |
MUDAJAYA GROUP BERHAD ("MUDAJAYA")
R.K.M Powergen Private Limited : 4 x 360 MW Coal Based Independent Power Plant Project in India ("IPP Project")
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We refer to our announcements dated 31 October
2006 and 13 May 2009 in relation to Mudajaya Corporation Berhad’s
investment in R.K.M Powergen Private Limited ("RKM").
As for the sale of power to the Chhattisgarh
State Electricity Board and PTC India Limited as announced on 31 October
2006 and 13 May 2009 pursuant to the Power Purchase Agreements (“PPAs”)
respectively, the terms are being renegotiated by both RKM and the
relevant parties which have yet to be finalised.
For Phase 1 of the IPP Project comprising Unit
1, the Board of Directors of Mudajaya is pleased to announce that its
26% owned associated company, RKM in India has notified Mudajaya
Corporation Berhad on 16 March 2016 that it has entered into a PPA for
25 years with several power distribution companies in the State of Uttar
Pradesh on 15 March 2016 for the sale of 350 MW where the commercial delivery is targeted for October 2016.
However, both parties are in discussion for an early supply of
electricity as allowed under the PPA, and RKM is confident that in
anticipation of the higher demand for power during the summer period,
Unit 1 will commence commercial delivery soon.
The power plant has a total capacity of 1,440
MW consisting of 4 generating units of 360 MW each with the development
phases comprising Phase 1 (Unit 1) and Phase 2 (Units 2, 3 and 4).
RKM has also confirmed on 16 March 2016 that Units 1 and 2 have
achieved the commercial operation date and are ready to commence the
sale of power. The negotiation for the PPA for Unit 2 is
in progress and is expected to be concluded soon. Units 3 and 4 are
still work in progress.
The successful commissioning and commercial
operations of Units 1 and 2 mark a significant milestone for the Group’s
participation in the power sector in India after lengthy delays.
This announcement is dated 17 March 2016.
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In above annoucement, the management highlighted that the selling of power will only in Oct 2016.
Personally i think The management acknowledged the long delay of the power plant, therefore, they become VERY CAREFUL when making any annoucement. Perhaps they want to be VERY VERY VERY sure things really going well.
I did a search in India from the website of "CENTRAL ELECTRICITY AUTHORITY"
I found below:
From above report, i pretty sure that Unit I & II has achieved its COD target. In fact, it has STARTED generating power!
What else?
Mudajaya - Obvious Winner for MRT 2 ?
Below i extracted from MRT CORP website and list of winner for MRT 1
From above MRT 1 winner list, SunCon and AZRB has already been awarded for MRT 2.
I believe Mudajaya, Gadang & Muhibbah Engineering will be awarded with MRT 2 Viaduct Project too.
By the way, what is Viaduct?
It is the high trestle bridge
From above MRT 1 winner list, SunCon and AZRB has already been awarded for MRT 2.
I believe Mudajaya, Gadang & Muhibbah Engineering will be awarded with MRT 2 Viaduct Project too.
By the way, what is Viaduct?
It is the high trestle bridge
Cheers, YiStock
31 March 2016
MUDAJYA (5085) - The Geese Started Producing Golden Eggs (2) - YiStock
http://klse.i3investor.com/blogs/mudajaya/94027.jsp
