Stratavest Sdn. Bhd.

active

Stratavest Sdn. Bhd is developing the 64.4MW, US$97.9 million Libaran Power Station at the Seguntor Industrial Area near the Seguntor Integrated Timber Complex in Sandakan. The Libaran plant will use diesel fuel. Mitsui and Burmeister Wain Scandinvian Constructor are the engineering, procurement, and construction (EPC) contractors and equipment suppliers for the project. The plant was expected to become operational in late 1998. Financial closure for the project was achieved in early 1997 with the appproval of a ringgit 184.0 million loan arranged by the locally-based Perwira Affin Bank Bhd. Stratavest signed a 21-year PPA with the Sabah state electric utility, Lembaga Letrik Sabah, in January 1997. As of July, 2000, the project company was planning to issue a serial bond worth US$ 17.1 million in order to retire its existing loan facilities and partly redeem its redeemable shares.