YTL Power has announced that it has become a substantial shareholder in Ranhill Utilities Berhad following the acquisition of 243,329,346 ordinary shares representing 18.87% of the issued share capital of Ranhill.
This will position YTL strongly in the utility space especially in water management, as Ranhill is among the key player both locally and in the region.
Ranhill recently announced that it is roping in China Energy International Group Co Ltd as a partner for the proposed development of a source-to-tap drinking water supply project in Indonesia (Djuanda project). The detailed scope of work, rights, and responsibilities of each party shall be subsequently negotiated, discussed, finalised and mutually agreed by both parties.
CEIG is a subsidiary of China Energy Engineering Corporation Ltd which is listed on the Hong Kong and Shanghai stock exchange, involved in solutions development to industries such as energy, power and infrastructure worldwide. Ranhill also intends to collaborate with CEIG for other potential projects in Southeast Asia.
The Djuanda project is Indonesia’s first source-to-tap water supply project with a capacity of 605MLD, supplying clean water from the Jatiluhur dam to four regions namely DKI Jakarta, Bekasi City, Bekasi Regency and Bogor Regency on a BOT basis (build-operate-transfer). Ranhill has a 74% stake in the project while other members of the consortium are PT Varsha (10%), PT PP Persero & PT PP Infrastruktur (15%) and Maynilad (0.16%). The project’s feasibility
