Daelim Industrial nails down billion-dollar Malaysia deal

Daelim Industrial said yesterday it has secured a $1.153 billion deal to build a thermal power plant in Malaysia.

According to the nation’s fourth-largest builder in terms of construction capacity, it has signed the deal with state-run power company Tenaga Nasional Berhad (TNB) to build a 1,000-megawatt plant in Manjung, about 288 kilometers northwest of Kuala Lumpur. The plant is scheduled for completion in October 2017.

Daelim said it will be the first construction project for the company in Malaysia in 13 years. The company first entered the country in 1974 on a contract to upgrade Sibu port.

Daelim has been expanding its presence in Southeast Asia, with four power plants currently under construction in Vietnam and the Philippines.