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OTHERS MUDAJAYA GROUP BERHAD ("MUDAJAYA") - Update of Status of Ventures

MUDAJAYA GROUP BERHAD

Type Announcement
Subject OTHERS
Description
MUDAJAYA GROUP BERHAD ("MUDAJAYA")
- Update of Status of Ventures

We refer to our announcement dated 28 February 2017 on the status of the Joint Venture between R K Powergen Private Limited and Mudajaya Corporation Berhad (“MCB”), a wholly-owned subsidiary of Mudajaya for a coal-fired Independent Power Producer project in the State of Chhattisgarh, India.

We wish to inform that MCB has on 3 March 2017, received a letter of notification from R.K.M Powergen Private Limited (“RKM”) on its intention to supply power generated from Units 1 & 2 to Uttar Pradesh Power Corporation Ltd (“UPPCL”) with whom RKM has executed a Power Purchase Agreement for the supply of 350 MW power. The tariff was approved by Uttar Pradesh Electricity Regulatory Commission (“UPERC”) on 1 February 2017. Subsequently, UPPCL filed a Review Petition seeking certain modifications.  Upon the passing of orders by UPERC on the Review Petition, UPPCL will issue the Notice of Despatch for the commencement of power supply by RKM.  In preparation for the supply of power to UPPCL, Unit 1 was in operation for testing purposes and has been selling power generated to the Indian Energy Exchange. 

Further announcement on any material development of the above matter will be made to Bursa Malaysia Securities Berhad in due course.

 

This announcement is dated 3 March 2017.






Announcement Info

Company Name MUDAJAYA GROUP BERHAD
Stock Name MUDAJYA
Date Announced 03 Mar 2017
Category General Announcement for PLC
Reference Number GA1-03032017-00080




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