Cambodia Pte Ltd. Power Plant

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A foreign consortium led by Malaysia-based Leader Universal Holdings Bhd signed a US$40 million build, own and transfer (BOT) deal to become Phnom Penh's first private power plant in September of 1994. The 35MW electricity generating plant consisted of seven Italian diesel generator sets and became fully operational in November of 2002. The consortium was entitled to operate the plant for 18 years before turning it over to the state-owned Electricite du Cambodge. The power plant, which was located in the Chak Angre district of Phnom Penh, was a joint venture by three Malasian companies - Leader Universal Holdings (60%), Delcom Services Sdn Bhd (20%) and Grand United Holdings Berhad (20%). The power purchase agreement was executed between the JV and Electricite Du Cambodge in 1994. A majority of the financing for the plant was handled by the internal funds of Leader Universal. By mid 2003, the company was considering an upgrade of its facilities from 35MW to 60MW in order to meet the expected demand of the city. The upgrade was expected to cost US$15 million.