Extracted from Malaysiakini
GLC Sime Darby may take over
troubled Bakun dam
Dec 17,
The
government has agreed in principle that conglomerate Sime Darby can take
ownership of the controversial Bakun hydroelectric power plant in
Citing unnamed
sources, the Edge financial
weekly said Sime Darby already headed a consortium awarded a contract in 2002
to help build a massive dam as part of the project, whose completion has been
delayed by years.
"Sime is
seen as the best candidate to own Bakun because it will resolve the funding
issue and settle all claims and counter claims that have come out of the
project," said a source.
The dam
project on
Work on the
dam has been slow because of unresolved matters such as cost overruns, already
at RM700 million, the Edge
said.
It had been
slated to be completed by August 2007, but the weekly said the first turbine
was scheduled to start operation only in August 2009.
Undersea
cables link revived
The
government-linked Sime Darby, which also has interests in the property and
plantation sectors, could become one of
The dam,
which involves flooding an area the size of
The Edge also reported the government had
approved an ambitious 2.5-billion-dollar project to link the Bakun power
station to peninsular
It said Sime
may take the lead role in a consortium undertaking the project, which was
dropped following the 1997 Asian financial crisis.
Energy
minister Lim Keng Yaik last month said the government may revisit the proposal.
- AFP